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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 utilize these funds for propelling the growth of its NEP-ready (National Education Policy 2020) programs, expanding its one-of-a-kind Centres of Excellence model across university partners in India, and further enhancing its technology stack for student placement.
With the ongoing disruption in the higher education space, iNurture is in pole position to take advantage of this great opportunity to accelerate growth, and further strengthen its global education network.
Speaking on the funding round, Founder and Managing Director of iNurture, Ashwin Ajila 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 robust technology infrastructure and effective academic constructs as well as powering the Smart University model through the implementation of Centres of Excellence across our University partner network. Ventureast has been an exceptional partner to iNurture over the years and given that they wanted to distribute meaningful returns to their limited partners within the fund’s life, we have facilitated a successful exit for them.”
Commenting on the investment, Chris Botsford, Co-founding Partner at ADM Capital said, “ADM Capital is excited by the opportunity to fund a business that is enabling employability focussed education both through online and on-campus programs, thereby aligning with various UN Sustainable Development Goals. iNurture is a unique, omnichannel business expected to capitalize on strong demographics and an expected increase in student enrolment.”
“We are proud to have had the opportunity to work closely with Ashwin Ajila and our co-investors Ascent Capital/BII/Kimera. Ashwin and their team have built an extremely sustainable, capital-efficient, and profitable business in the higher ed-tech space. Leveraging its B2B2C model, with constant innovation, iNurture is best positioned to take advantage of India’s new National Education Policy and to solve the problem of employability of college students,” Sarath Naru, Managing Partner at Ventureast added.
Currently, the company has partnerships with over 30 university campuses across India, offering over 50 programs on campus, and has more than 15,000 students enrolled in these differentiated programs. iNurture Education also has partnerships with global universities providing programs in Design, Digital Business, Sports, Luxury, and Hospitality Management including several courses in emerging technologies.