iNurture Education Solutions, an edtech firm in higher education, providing new-age and industry-relevant under-graduate and postgraduate degree programmes in partnership with recognised universities in India. The firm has raised US$ 15 million in a combination of debt and equity from ADM Capital, an investment firm with a focus on financing growth, cross border transactions, acquisitions and special opportunities across the Asia Pacific region. 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, 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.
Ashwin Ajila, Founder and Managing Director, 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. 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.”
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 focussed 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.”
Sarath Naru, Managing Partner, Ventureast said, “We are proud to have had the opportunity to work closely with Ashwin Ajila and our co-investors Ascent Capital/BII/Kimera. Ashwin and 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.”
