Manipal Education and Medical Group, plans to spin off its recently-launched Manipal ProLearn, which provides learning solutions in shorter format on mobile phones, into a separate company next year, according to a report in The Economic Times.
“It’s under Manipal Global Education right now but we will spin it off as a separate company as we grow. Right now it’s being incubated there, next year it should become a separate company,” CEO of the group Ranjan Pai told The Economic Times in an interview.
“The world is changing so fast that people continue to re-skill themselves. This becomes a very important tool for that, especially when the language of coding is changing. We see that as a huge growth opportunity,” he added.
Manipal Global Education is also eyeing an entry into the health insurance space. “We’ve been toying with the idea of health insurance. We may look at that down the road,” Pai said, when asked if the group was interested in any new verticals.
Pai is also the co-founder of investment fund Aarin Capital, which is had committed $80 million worth of investments.
Commenting on whether Aarin was looking to raise its corpus, Pai said “It’s a moving target, we don’t have any number in mind right now. It’s not going to be another $80 million. It’ll be incremental, probably another $10-20 million. We will look at exits. If the exits happen, we’ll continue to deploy that”.