iNurture raises INR 28 crores from Ventureast, Bertelsmann India Investments, and Ascent Capital
iNurture, a provider of career-ready formal higher education programs in India, has raised 28 crores in its Series C funding round. Ventureast led the round along with participation from existing investors, Bertelsmann India Investments and Ascent Capital. iNurture will use the fresh funds to expand its unique e-Learning platform for Skill Centers and Distance Learning, and to expand its managed campuses business.
Headquartered in Bengaluru, iNurture offers a wide selection of industry relevant courses, in association with leading universities/colleges across India. The company holds partnerships with more than 30 academic institutions across the country and more than 6,000 students are currently pursuing its programs. Last year, the company signed a joint-venture agreement with Galileo (a global higher education company) to offer additional programs in e.g. design and sports management with support from their higher education institutions Strate School of Design, ESG and Hétic. It also launched the e-Learning platform for existing university partners.
Dr. Srikanth Sundararajan, General Partner at Ventureast, said, “We are very excited about our investment in iNurture, because they have the right combination of an online and offline model which is also aligned with the official curriculum provided by AICTE. They are perfectly positioned to meet the needs of the next generation workforce which they can offer in the context of a regular degree program; they drive these programs with inputs from companies who would need specialized skills. The iNurture team creates proprietary content as well as curates content from their content provider partners to offer custom programs."
Pankaj Makkar, Managing Director of Bertelsmann India Investments said, "The Indian EdTech sector is poised for unprecedented growth and we are really excited to be at the forefront of this endeavor. We first partnered with iNurture in 2014, and since then, their growth has been nothing short of exceptional. This fresh round of investment affirms our faith in iNurture's vision, and also aligns perfectly with our focus on education."
Raja Kumar, Managing Partner of Ascent Capital said, “iNurture has emerged as the clear leader in the burgeoning career-ready higher education segment. With its asset-light model, unique approach to e-Learning and ability to leverage on existing long-standing partnerships, the company is well positioned for its next phase of exponential growth. We are excited about the company’s prospects and are looking forward to working closely with the management in this journey.”
Speaking on the occasion, Ashwin Ajila, Founder and Managing Director, iNurture said, “The new funds will be used to strengthen and grow our unique e-Learning platform. This platform will enable us to offer additional services such as skill centers and distance learning programs to not only our existing university partners but also to the affiliate colleges. The company has benefited from continued commitment from existing investors, Ascent and Bertelsmann, and is poised well to strengthen its leadership position in the higher education segment.”
Prior to this round, the company had raised funds from Bertelsmann India Investments, Ascent Capital, BlackSoil Capital and GVFL Limited.