Hyderabad-based education service provider Nspira Management announced that the company has secured around $75 million in a funding round led by Morgan Stanley Private Equity Asia.
Banyan Tree Growth Capital II also participated in the funding round.
As part of the recent transaction, a fund managed by Morgan Stanley Private Equity Asia has invested about $ 67 million of primary capital into the company for a minority stake.
“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,” Puneet Kothapa, MD of Nspira Management said. “We will also opportunistically evaluate inorganic opportunities that are synergistic with our core business and help us diversify our offerings.”
The funds raised through this funding round will be utilized in the process of organic and inorganic growth plans of the company. It will focus majorly on the expansion part and then on enhancing the customer base and improvisation of their products.
“Education service is one of the core focus sectors for Morgan Stanley across Asia. We believe private education in India is poised for a strong growth phase. Nspira is a leading player in the sector and has been instrumental in supporting the delivery of quality education to the masses at affordable prices,” said Nirav Mehta, managing director of Morgan Stanley Private Equity Asia in India.
“BanyanTree is excited to partner with Nspira, a leading education services provider. BanyanTree seeks to make investments in India which are driven by its large aspiring population thereby providing stability to the business and unaffected by economic cycles,” said Naval Totla, MD at BanyanTree Growth Capital.
Nspira Management focuses mainly on educational institutions and delivers quality education to the masses at affordable prices. The company offers its services to over 500 educational institutions with a base of close to 4,00,000 students across 13 states in India. With the assistance of its R&D wing, the company designs curriculum and examination content, which includes digital content for schools and colleges.