A Bengaluru-based education services provider, iNurture has raised 10 Crores Venture Debt from Mumbai-based specialized financing NBFC firm BlackSoil Capital Private Limited. iNurture Education Solutions is backed by Ascent Capital, Bertelsmann, and GVFL.
After investment in SaaS-based retail data analytics company ‘Intelligence Node’, BlackSoil has completed its fourth Venture debt transaction with “iNurture”.
Ankur Bansal, Whole-time Director, BlackSoil Capital Private Limited, says “A unique business model coupled with solving the employability gap is what we like about iNurture. The funds we have infused are going to help the company meet its working capital requirements and at the same time focus on its ongoing and new business initiatives”
Founded in 2008, iNurture is into designing and delivering new age innovative, industry-relevant, job oriented undergraduate and postgraduate programs by partnering with universities across India. Presently, the company has partnered with 25 universities pan-India and has a student base of 3,500. It has a successful track record of placing students in reputed companies post-graduation.
Ashwin Ajilia, Founder of iNurture, shares, “iNurture’s main aim is not just to provide education but to increase employability by imparting the right knowledge. Our business model is preferred and now accepted by leading universities of India. Hence the scope of expansion is very large as the market is still untapped from our perspective. The funds will be used to tighten the blended learning experience to students in partner units.”
The company is steadily growing from the past few years with 80% YOY. Of late, iNurture entered into a joint-venture with Galileo Global Education, Europe’s largest higher education company.