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Nspira Management Services raises around USD 75 million

Press Trust of India  |  New Delhi 

Education services provider today said it has raised around USD 75 million in funding led by Asia.

As part of the current transaction, a fund managed by Asia has invested about USD 67 million of primary capital into the company for a minority stake, a company release said.

BanyanTree Growth Capital II also participated in this funding.

The proceeds will be used to fund the organic and inorganic growth plans of the company.

"We will be deploying the funds to scale our business geographically, increase our client base, develop cutting edge education products, modernise our facilities and scale up our digital business.

"We will also opportunistically evaluate inorganic opportunities that are synergistic with our core business and help us diversify our offerings," Nspira MD Puneet Kothapa said.

In the private education space, Nspira provides services to over 500 educational institutions with a student base of close to 4,00,000 across 13 states in Through its R&D wing, Nspira designs and curates curriculum and examination content, including digital content for schools and colleges.

"We believe private education in is poised for a strong growth phase, driven by the large demand-supply gap for quality education as well as by increasing disposable incomes and urbanisation," Nirav Mehta, of Asia in India, said.

acted as the sole to Nspira for this transaction.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 11 2018. 17:40 IST