Edtech Startup iNurture Raises $15 Million in a Combination of Debt and Equity
The funds would be diverted to enhance the company's technology stack for student placement
EdTech firm focused on higher education, iNurture Education Solutions, has raised $15 million in a combination of debt and equity from ADM Capital. As part of this transaction, ADM Capital has also acquired Ventureast's stake in iNurture, facilitating a complete secondary exit.
The Bengaluru-based EdTech firm is looking to utilise these funds for propelling growth of its NEP-ready (National Education Policy 2020) programmes, expand its Centres of Excellence model across university partners in India and further enhance its technology stack for student placement.
The edtech company providing new-age and industry-relevant under-graduate and postgraduate degree programmes in partnership with recognised universities in India. It currently offers over twenty-five programmes in active collaboration with over 30 university campuses across India, offering over 50 programmes on campus, and has more than 15,000 students enrolled in these differentiated programmes.
Ashwin Ajila, Founder and Managing Director of iNurture, said, “Having established a profitable growth trajectory, our efforts in the last few years have been to strengthen our offerings in the online space, especially focused on student employability, through a robust technology infrastructure and effective academic constructs as well as powering the Smart University model through implementation of Centres of Excellence across our University partner network.”
Speaking on the investment, Chris Botsford, Co-founding Partner, ADM Capital, said, “ADM Capital is excited by the opportunity to fund a business that is enabling employability focused education both through online and on campus programmes, thereby aligning with various UN Sustainable Development Goals. iNurture is a unique, omnichannel business expected to capitalise on strong demographics and an expected increase in student enrolment.”