iNurture Education Solutions, an edtech firm in higher education, has raised $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 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.
Founder and MD 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 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.”
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 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.”
Currently, the company has partnerships with over 30 university campuses across India, offering over 50 programmes on campus, and has more than 15,000 students enrolled in these differentiated programmes. iNurture Education also has partnerships with global universities providing programmes in Design, Digital Business, Sports, Luxury and Hospitality Management including several courses in emerging technologies.
In the fiscal year 2022, iNurture grossed $29 million turnover with an EBIDTA of $2.5 million. The company is targeting to exceed its long-term revenue CAGR of 40 per cent for fiscal year 2023 while expanding its profit margins on account of significant operating leverage.