Brokerage and wealth management business Cosmea Financial Holdings (CFH) on Tuesday entered edtech by launching Torus Primero Edutech Pvt Ltd.
The new business aims to train one million young students and working professionals, and operate in the vocational education and professional certification space. The company is a joint venture between CFH and Delhi-based Primero Skills and Training Pvt Ltd.
Jayanta Das, chief executive of Torus Primero, claimed that the edtceh sector is set to become a $300 billion opportunity by end of this decade and even 1% of market share means a good business opportunity.
He said the policy support as enlisted in the new education policy (NEP) and the national skills mission, as well as acceptance of online mode of education by Indian youth is working as a catalyst for the education technology segment.
To begin with, the new venture will focus on six labour intensive areas of education including banking and financial services, tourism, and hospitality and retail.
"Three years from now we look to target $100 million based on the fact that skills and online certification have huge headroom to grow compared to the K-12 (school) and exam preparation sectors," he said.
And from the government job preparation segment, the firm “plans to have $30 million more by 2025, which effectively would help us cross 130 million dollars”.
Das said the firm will operate in a hybrid mode and while around 60% of the content delivery can happen over online mode, which will be supplemented through physical classrooms and labs.
Cosmea Finacials was recently in news for its aim to launch Asia's first cryptocurrency exchange-traded fund (ETF) in collaboration with financial management firm Kling Trading India.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
