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| Mr. Suresh Kalpathi |
The Kalpathi Group launches a new ed-tech venture, Veranda Targets Rs. 1000 crore ARR in 3 years
Bengaluru, December 1, 2020: The Kalpathi Group, today announced the launch of their new ed-tech venture Veranda Learning Solution, India's first comprehensive 360-degree online education platform. Veranda comes from the Kalpathi AGS group that has immense experience in education, technology, and top-quality production with proven expertise in the past.
Veranda Learning Solution will offer training programs in test preparation for all competitive exams in India and abroad, including IIT JEE, NEET, GRE/TOEFL/IELTS/GMAT, IAS, State PSC, Banking/Staff Selection/RRB, CA/ACS related exams, Medical, K-12, NTSE and Olympiads. Veranda will also offer courses in software development namely databases, languages, development tools, cloud/analytics/big data/AI/ML platform and at an affordable price point.
Veranda is building a unique online platform that will combine the best of technology, processes, and methodologies to deliver high-quality content seeking to be one of India's first to offer a comprehensive 360-degree education. Focused on academic outcomes for its students, Veranda adopts a multi-modal delivery system backed by a rigorous and disciplined learning framework.
Speaking on the occasion Mr. Suresh Kalpathi said, "with the launch of Veranda we aim to establish an education company of choice for our customers who need a committed partner to drive their success by offering affordable, best in class and focused online content. Our intent is firmly on being a reliable provider delivering outcomes for all those who opt for our courses".
"The Indian online education market, supported by macro-economic changes, improvements in product offerings and changes in business models, is expected to grow to USD 1.96 billion by 2021 and to USD 4.87 billion by 2024. Veranda is ideally placed to play a dominant role in the education industry. Being built with an initial investment of Rs. 50 crores, Veranda plans to expand its portfolio through organic development and acquisitions. We are targeting an Annual Recurring Revenue (ARR) of Rs. 100 crores, in the first full year of our operations and Rs. 1000 crore ARR in 3 years from now. We are working on multiple acquisitions, which we will announce in the coming weeks".
Veranda will be focusing on a 360-degree approach to learning process. Subject matter experts will give weekly live lectures to students and clear all their queries. Each student will have a counsellor assigned to them to ensure that the student stays on track of the course and is motivated to complete deadlines on time.
Veranda will be using adaptive AI for quizzing, where the difficulty of questions will change depending on the student's performance. This will ensure strengthening of foundation and concept understanding whilst providing abundant practice.
The curriculum will include video & audio content and presentations of the highest quality for the lectures to be engaging with minimal distractions. The courses will be structured as a mix of video, reading and assessment-based learning to ensure that the concepts are effectively received by students. This will be supported by a continuous follow-up from the Veranda faculty to ensure commitment to course schedule and is backed by an "Always Available" student support system.
About Kalpathi Group
The Kalpathi Group is a Chennai-based business group that has owned and managed various successful businesses over the past 25 years. The Kalpathi Group's business interests include, education, software services, property development, finance, and entertainment.
In 1991 Mr. Suresh Kalpathi along with his two brothers Kalpathi S. Aghoram and Kalpathi S. Ganesh set up SSI Ltd as an IT training provider in Chennai. This grew to be one of the world's largest education networks for vocational training in the private sector. SSI later acquired Aptech and grew into a global provider of education, consultancy & software services SSI went on to become the first Indian IT company to be listed on the London Stock Exchange.
Kalpathi Group now runs a VC fund called Kalpathi Investments, with investments in multiple sectors including Affordable Housing, HealthCare Services, IT, Agriculture, and Dairy and the AGS brand in the entertainment business that includes production, distribution, and exhibition being now one of the largest production houses in South India and the largest privately owned multiplex chain in Tamil Nadu. The group also owns a renewable energy business under the name of Dindigul Renewable that supplies power to large corporations such as Hyundai Motors.
Speaking on the occasion Mr. Suresh Kalpathi said, "with the launch of Veranda we aim to establish an education company of choice for our customers who need a committed partner to drive their success by offering affordable, best in class and focused online content. Our intent is firmly on being a reliable provider delivering outcomes for all those who opt for our courses".
"The Indian online education market, supported by macro-economic changes, improvements in product offerings and changes in business models, is expected to grow to USD 1.96 billion by 2021 and to USD 4.87 billion by 2024. Veranda is ideally placed to play a dominant role in the education industry. Being built with an initial investment of Rs. 50 crores, Veranda plans to expand its portfolio through organic development and acquisitions. We are targeting an Annual Recurring Revenue (ARR) of Rs. 100 crores, in the first full year of our operations and Rs. 1000 crore ARR in 3 years from now. We are working on multiple acquisitions, which we will announce in the coming weeks".
Veranda will be focusing on a 360-degree approach to learning process. Subject matter experts will give weekly live lectures to students and clear all their queries. Each student will have a counsellor assigned to them to ensure that the student stays on track of the course and is motivated to complete deadlines on time.
Veranda will be using adaptive AI for quizzing, where the difficulty of questions will change depending on the student's performance. This will ensure strengthening of foundation and concept understanding whilst providing abundant practice.
The curriculum will include video & audio content and presentations of the highest quality for the lectures to be engaging with minimal distractions. The courses will be structured as a mix of video, reading and assessment-based learning to ensure that the concepts are effectively received by students. This will be supported by a continuous follow-up from the Veranda faculty to ensure commitment to course schedule and is backed by an "Always Available" student support system.
About Kalpathi Group
The Kalpathi Group is a Chennai-based business group that has owned and managed various successful businesses over the past 25 years. The Kalpathi Group's business interests include, education, software services, property development, finance, and entertainment.
In 1991 Mr. Suresh Kalpathi along with his two brothers Kalpathi S. Aghoram and Kalpathi S. Ganesh set up SSI Ltd as an IT training provider in Chennai. This grew to be one of the world's largest education networks for vocational training in the private sector. SSI later acquired Aptech and grew into a global provider of education, consultancy & software services SSI went on to become the first Indian IT company to be listed on the London Stock Exchange.
Kalpathi Group now runs a VC fund called Kalpathi Investments, with investments in multiple sectors including Affordable Housing, HealthCare Services, IT, Agriculture, and Dairy and the AGS brand in the entertainment business that includes production, distribution, and exhibition being now one of the largest production houses in South India and the largest privately owned multiplex chain in Tamil Nadu. The group also owns a renewable energy business under the name of Dindigul Renewable that supplies power to large corporations such as Hyundai Motors.
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