Ed-tech firms are going gaga in the COVID-19 lockdown, as all the educational institutions have shifted online mode. Ed-tech startup iNurture Education Solutions has now secured Rs 10 crore in a debt funding round from the Mumbai based new age venture debt platform, BlackSoil.
This is in addition to the undisclosed amount of the equity capital the company is raising from its existing investors.
The Bengaluru-based startup said that it will now going to use the new funds to accelerate its digital higher education platform and meet its working capital requirements. This is the second time BlackSoil Capital has made an investment in iNurture, after it invested in the company since April 2017.
Ashwin Ajila, Founder and Managing Director, iNurture, said, “The COVID-19 crisis presents an enormous opportunity for us to support our partners and engage with undergraduate and postgraduate students digitally, and make them career ready, even within the confines of their homes. We are currently in the process of raising an investment round of over $100 million, which we hope to close by the end of the year.”