Private Equity

VC Fund Investments

Edtech startup Virohan raises $7-M from Blume Ventures

Entrackr  

Gurugram-based healthcare-focused edtech startup Virohan has raised USD 7 million in a pre-Series B1 round led by Blume Ventures. Blume Ventures has invested INR 20.5 crore followed by Bharat Inclusive Technologies Seed Holdings and Rebright Partners who invested INR 11.48 crore and INR 8.14 crore respectively. Existing investor Rianta Capital (via Lesith Artha Ltd), LetsVenture, ALES Global Investment Partnership invested INR 4.92 crore, INR 4.15 crore, and INR 4.1 crore respectively. The remaining sum was infused by Shantani Jain, Deepa Bagla Financial Consultants, Midland Rubber & Produce, and others. Virohan will issue 8,303 pre-Series B1 compulsory convertible preference shares (CCPS) at an issue price of INR 67,681 per share to raise INR 56.2 crore (USD 6.83 million.) Post-allotment, Blume Ventures holds 8.98% stake followed by Lesith Artha Ltd, Rebright Partners, and Bharat Inclusive Technologies Seed Holdings which own 7.27%, 5.12%, and 5.03% stakes respectively. Promoters of the company – Nalin Saluja, Kunaal Dudeja, and OXYS Impact LLP - will collectively own 44.45%. Founded in 2018 by Archit Jayasal, Virohan offers healthcare vocational training to students to build a career in the healthcare industry. It operates hybrid classrooms at campuses and online training across Delhi, Faridabad, Pune, Raipur, Meerut, and Nagpur.

From the Venture Intelligence PE-VC Deal Database: Between Jul-2020 and Apr-2020, Virohan had raised about USD 4 M from Rebright Partners, Rianta Capital, Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)