iNurture needs $20 mln to launch its e-learning platform

BENGALURU: iNurture Education Solutions, an education services firm that enables industry-relevant higher education in India in collaboration with universities, is looking to raise $15-20 million.
The funding is expected to fuel the launch of its e-learning platform, international expansion with partners, manage its in-bound global partnerships and provide money for acquisitions in the education technology space.

The startup, which has raised three rounds of funding from Ascent Capital, Bertelsmann Investments and Gujarat Venture Finance Limited, recently signed a joint venture agreement with Europe-based Galileo Global Education to set up a Centre of Excellence in Bengaluru.

"We have raised around Rs 100 crore in our first three rounds. We are now looking to raise around $15-20 million (Rs 100 crore-Rs 130 crore). We have a lot of in-bound interest because our model is unique and there is a lot of interest in edutech. We expect to close the round in the next three to four months," said Ashwin Ajila, MD of iNurture Education Solutions.

iNurture, set up in 2009, delivers industry-relevant, full-time programmes in undergraduate and postgraduate levels in association with universities, autonomo us institutions and colleges. It currently has over 30 partners across India and focuses on verticals within information technology, marketing leadership and innovation, financial services, and business analytics and design.

"In 2017, we will be moving outside India. We will certainly be going to Africa. We will also expand to either the Middle East or South East Asia. This will be both an offline and an online campus," said Ajila."We are also in talks with world leaders in education space and telling them to enter India. Galileo is the first such initiative."

Galileo is known for its courses in design, creativity and digital innovation, and also in growing areas of luxury, sports and hospitality management. The startup's Centre of Excellence will focus on providing these programmes in India with a curriculum tailored to suit local industry's requirements. The JV company will set up similar centres in Delhi, Mumbai and Chennai and will also consider expanding internationally. The JV has plans to invest up to $5 million to set up these centres.