iNurture raises Rs 30 cr from Bertelsmann

'We aim to increase our presence in education sector on a global scale'

Bangalore-based iNurture Education Solutions, which offers higher education services, has raised Rs 30 crore from Bertelsmann India Investments, the strategic investment arm of the international media and services group, Bertelsmann. Earlier, iNurture had raked in about Rs 43 crore from GVFL (in 2009) and Ascent Capital (2012).

Ashwin Ajila, founder & CEO, iNurture said the fresh round of funds would largely be used to ramp up the managed services offering through products and services from Bertelsmann’s international portfolio, apart from sprucing up iNurture’s technology platform and expand its reach across media platforms.  

Launched in 2004, iNurture works closely with universities to offer students industry-relevant courses, improving chances of securing a job upon graduation.

The start-up offers career-ready programmes for students in partnership with 20 higher education institutions. It recorded a topline of Rs 6 crore in financial year 2014, and expected to close the current financial year (FY 2015) with revenues of around Rs 22 crore, said Ajila. iNurture is expected to turn profitable by 2016, with a turnover of Rs 60 crore, he added.

“iNurture’s  business-business-customer (B-B-C) business model is unique in India, connecting academia with employment,” Bertelsmann India Investment Managing Director Pankaj Makkar told Business Standard.  He added iNurture offered an opportunity to introduce Bertelsmann’s global education products and services into the Indian market.

The investment arm, a late-stage venture fund active in India over the last two years, picked up stakes in eight start-ups, which include  Pepperfry.com, Indiaproperty.com, Wiziq.com, Udacity, and Saavn. It focuses on four verticals – digital, education, services and media. As per industry estimates, Bertelsmann’s investment arm has put around $70 million in the country over the last two years.