Tata enters education vertical with ClassEdge
The Tata Group marked its entry into the education space yesterday through its subsidiary Tata Interactive, which will launch a new multimedia, collaborative education product called ClassEdge for Indian schools.
ClassEdge is a cloud-based, integrated education solution. The solution will be hosted on Tata’s servers and will be available to schools on a subscription model. As part of the deal, Tata Interactive will be providing the school with a state-of-the-art projection system as well as an MPLS (multi-protocol label switching) connection. Though pricing details were not released, Sanjaya Sharma, chief executive of Tata Interactive Systems said the pricing would be competitive and affordable. “Our aim is not to make obscene profits through this product,” added Kishor Chaukar, MD of Tata Industries. “Having said this, it is also not a philantrophic venture. The main aim here is to build our brand down the years.”
Tata Interactive currently has 200 people creating content for ClassEdge for CBSE, ICSE, and state boards. This number is expected to increase to 600 by the end of the year. Tata Interactive has received an initial funding of Rs. 100 crores for ClassEdge and the aim is to sign up 1000 schools in the first year and reach 100 cities in the next six months.
Sharma further said that they company hopes to be profitable by the third year of operations. “The estimated K-12 education market is $30 billion and the market is growing at 60 percent p.a. This gives you an idea of the scope for growth in this space,” remarked Sharma. He further added that initially the content would be in English and other vernacular tongues will be added over the course of time. The company is also planning to take the product globally but Sharma admits that this might take some time.
Tata Interactive has been creating content for corporates and third-party publishers globally since the past decade though this is first foray in core education. It has development centers in Mumbai, Kolkatta, Switzerland, and Germany.
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