Edtech startup iNurture raises $15 Mn from ADM Capital in a blend of debt and equity
- ByStartupStory | May 11, 2022
iNurture is a Benngaluru-based ed-tech startup that has raised $15 million from ADM Capital in a combination of both debt and equity. The deal stated that Inurture’s existing investor VentureEast will exit the firm and its shares would be transferred to ADM Capital. The company noted that the new funds would be utilised to enhance the company’s National Education Policy 2020 (NEP) programs, grow its tech sector and reinforce its global education network.
iNurture was founded in 2007 by Ashwin Ajila with the aim to build an online learning platform for students. It offers graduation and post-graduation programs in several disciplines like management, computer science, IT, finance, media, machine learning, etc. The e-learning platform also partners with Indian and international universities to provide educational programs to students.
The startup has partnered with almost 30 university campuses across India and provides more than 50 programs. It has also registered roughly around 15K students till now. It also recorded a turnover of $29 million in FY 22. And is presently focusing to extend its profit margins. This year, it raised Rs 75 crore in debt and earlier to this it raised Rs 71.5 crore in its bridge financing round from Dubai-based family office Kimera Limited. It also acquires KRACKiN, which is a skill-based ed-tech platform to help graduates become employable.
Ashwin Ajila, the founder and MD of iNurture said that the company has so far established a growth trajectory, it has focused on student employability via a robust technology infrastructure and has also emphasised online space offerings for students in the last two years.
Chris Botsford, the co-founding partner at ADM Capital said that the company is enthusiastic to back a business dedicated to student employability and education both through online and offline programs. He also added that iNurture is a unique omnichannel that is aligned with the UN Sustainable Development Goals.
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