ADM Capital has invested $15 million in loan and equity for Bengaluru-based edtech firm iNurture. As part of the arrangement, iNurture’s current investor VenturEast will exit the company, and ADM Capital will take over its shares.
The new funds will be used to expand iNurture’s National Education Policy 2020 (NEP) programmes, improve its technology stack, and expand its worldwide education network.
iNurture is an online learning platform for students founded by Ashwin Ajila in 2007. It offers undergraduate and graduate programmes in management, computer science, finance, information technology, media, and machine learning, among other fields. It collaborates with Indian and international colleges to provide students with educational opportunities.
According to a statement, iNurture had a revenue of $29 million in fiscal year 2021-22 (FY22) and is currently trying to increase profit margins due to strong operating leverage.