Dubai family office invests in India's iNurture
Source: Vccircle
Bengaluru-based ed-tech startup iNurture Education Solutions Pvt. Ltd, a provider of formal higher education programmes in India, has raised $4 million (Rs 30 crore) from Kimera Ltd, a Dubai-based family office.
The company said in a statement it closed 2019-20 with revenue of about Rs 150 crore and that, it has turned profitable in this financial year.
Previously, in January 2018, the startup had raised Rs 28 crore in Series C round of funding led by venture capital firm Ventureast.
Founded by Ashwin Ajila and established in 2007, iNurture offers industry-related courses in association with universities and colleges across India. It has more than 10,000 students in its full-time undergraduate and postgraduate programs and is currently present in more than 35 campuses across the country.
With the current COVID crisis, the company is delivering classes online and is finishing the academic requirements for its students on schedule using its technology platform. “The Covid-19 crisis presents an enormous opportunity for iNurture to engage with undergraduate and postgraduate students digitally and make them career ready within the confines of their homes,” Ajila said.
“We are making this platform free during these times so that students can avail of the full benefits of the platform. We are also seeing a rising demand globally for our employability solutions and with Kimera’s investment, we will soon be available in the middle-east market as well”, he added.
Kimera, meanwhile, is a Dubai-based a single-family office established in January 2017 with a global multi-asset investment mandate, investing across public equity, private equity, venture capital, fixed income and real estate. Kimera’s CIO is Zaid Al-Qaimi, who was previously with the Abu Dhabi Investment Authority (ADIA), according to a Bloomberg report.
