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Kalpathi Group forays ed-tech space with Rs 50 cr infusion

Tuesday, 01 Dec 2020
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The Kalpathi Group has entered the USD 1.96 billion ed-tech space by launching Veranda Learning Solution with an initial investment of around Rs 50 crore.

The Group also runs a VC fund called Kalpathi Investments. It started SSI and went on to become the first Indian IT company to be listed on the London Stock Exchange. It also acquired Aptech.

Veranda will offer training programmes in test preparation for all competitive exams in India and abroad.

The ed-tech is targeting an annual recurring revenue (ARR) of Rs 100 crore in the first full year of its operations and Rs 1,000 crore ARR in three years. Veranda will be focusing on 360-degree approach to the learning process.

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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