iNurture, an EdTech platform that provides higher education programmes in India, announced that it is raising INR 75 Crore in debt.
According to a report, the Bengaluru-based firm passed a resolution in their shareholder meetings to offer 1,500 non convertible debentures (NCD) at issue price of INR 5,00,000 each to raise INR 75 crore.
Founded by Ashwin Ajila in 2007, iNurture offers industry-relevant graduation and post-graduation degree programmes in partnership with recognised universities in India. The platform leverages its associations with industries to facilitate guest lectures, internships, industrial visits, live projects and placement assistance. It implements a holistic knowledge-imparting model to prepare students for new-collar jobs in emerging industries. The company's vision is to build a robust ecosystem in fast growing sectors that will create a strong knowledge capital.
iNurture's mission is to become thought leaders by defining education in sectors that will matter in the future and also to become the largest provider of career-ready students to industry.
In 2020, the startup had announced the launch of CollegeNinja, a career guidance and student engagement app for students of class 11 and 12 who are charting their next academic step. Through the app, iNurture can engage with next-gen students and parents who, like so many of us, are mobile-centric and app-savvy.
Last year in March, iNurture had raised $10 million in a bridge financing round from Kimera Ltd, a Dubai-based family office. Prior to that, the company had raised INR 10 Crore ($1.34 million) in debt funding from existing investor BlackSoil Capital Pvt. Ltd in July 2020.