Bangalore-based iNurture Education raises INR 30 Crores funding from Bertelsmann India Investments
Bertelsmann India Investments (BII) has concluded its 5th direct investment in the country, in a higher education services provider – iNurture Education Solution Pvt Ltd. iNurture Education has raised INR 30 crores in a fresh round of funding by Bertelsmann India Investments (BII), the strategic investment arm of the international media and services group Bertelsmann in India. iNurture previously raised funds from GVFL in 2009 and Ascent Capital in 2012.
Since commencing operations in 2004, iNurture has pioneered a novel approach to solving India’s growing employability challenge amongst graduates. The company serves as a knowledge and technology partner with 20+ universities and colleges across the country,to deliver industry-relevant curricula in fast-growing high-demandfields such as mobile applications, data analytics and information security. iNurture provides a wide range of services to higher education institutes ranging from curriculum support and industry interface to student placement and marketing.
Bertelsmann India Investments (BII) focuses on investments in the digital, media and education sectors. BII invests in pioneering companies developing new technologies, business models and visions of the future. It focuses on early-stage as well as growth-stage investments.
Pankaj Makkar, Managing Director of Bertelsmann India Investments said,
We are excited to partner with iNurture as we aim to increase our presence in the large and vibrant education sector on a global scale. At Bertelsmann, we have global education products and services which can be leveraged to launch exciting projects in India and thus bring global education to the country.
Some of BII’s other direct investments include Pepperfry.com, Indiaproperty.com, as well as Authorgen Technologies and its online education platform, Wiziq.com. In the past few months, Bertelsmann has made significant progress in expanding its strategic growth business of education internationally, with the aim of establishing it as a third mainstay of business alongside media and services. In September, Bertelsmann invested in the online education provider Udacity, and in October, the group bought the American e-learning provider Relias Learning.
Ashwin Ajila, Founder &CEO of iNurture said,
While Indian higher education enrolment has grown at a rapid pace, the current system is facing the problem of quality and employability. After the top 25-30 universities, the quality drops dramatically and the percentage of ready-to-employ graduates is dismally low. iNurture is focused on bridging this gap by enabling students gain access to industry relevant courses at universities, and help boost students’ chances of securing a job upon graduation.
Ascent Capital had earlier invested $6.67 million in iNurture Education in Aug 2012. Since its inception in 2000, the firm has helped over 55 entrepreneurs build leading businesses across diverse sectors such as Technology, Healthcare, Pharmaceuticals, Education, Financial Services and Infrastructure. Commenting on the investment, Raja Kumar, Managing Director of Ascent Capital said,
Over the past few years, Ascent and the management team at iNurture have together built a distinct platform in higher education that is well positioned to take advantage of rapid growth in this segment in India.