Debt

Debt financing

Edtech unicorn Lead raises funding from Alteria Capital

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Mumbai-headquartered edtech unicorn Lead (formerly Lead School) has raised INR 35 crore from venture debt firm Alteria Capital. Lead will issue 3,500 Series A non-convertible debentures (NCDs) to Alteria Capital at INR 1,00,000 per debenture to raise INR 35 crore (USD 4.24 million.) Lead adds to the existing infrastructure of schools by providing them with digital resources, books, curriculum, teacher training, teacher manuals, and maths-science kits. It claims to be present in over 400 cities across more than 20 states with 25,000 teachers onboard and a student base of over 1.2 million.

From the Venture Intelligence PE-VC Deal Database: Between Aug 17 and Jan 22, Lead School had raised over USD 177 M from Elevar Equity, TPG Growth, WestBridge, GSV Venture, Good Capital and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)