Debt financing
Edtech startup i-Nurture raises Rs.75-Cr in debt
Bengaluru-based edtech company i-Nurture, which provides higher education programmes in India, is raising INR 75 crore in debt. The company will offer 1,500 non-convertible debentures (NCD) at an issue price of INR 5,00,000 each. The 13-year-old firm provides industry-relevant graduation and post-graduation degree programmes in partnership with recognised universities in India. It leverages its associations with industries to facilitate guest lectures, internships, industrial visits, live projects and placement assistance. Earlier in March last year, i-Nurture had raised INR 10 million in a bridge financing round from Kimera Ltd, a Dubai-based family office. For the fiscal year ending March 2021, iNurture recorded a surge of 22.4% in its operating revenue to INR 97.5 crore.
From the Venture Intelligence PE-VC Deal Database: Between Jan-2010 and Mar-21, i-Nurture had raised over USD 35 M from BlackSoil Capital, Bertelsmann India Investments, Ventureast, Ascent Capital and GVFL (now fully exited). (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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