InnoVen Capital, Asia’s venture debt and specialty lending firm, has made a debt investment of Rs 6 crore in Flinto Learning Solutions Private Limited, a Chennai-based educational startup, which focuses on activity-based learning for kids. The company initially started with and is famous for its flagship product – Flintobox, an age-appropriate activity box designed to engage children in a constructive manner. With this investment, InnoVen Capital aims to strengthen its focus on the burgeoning education sector, particularly the emerging early education segment.
Founded in 2013 by Arunprasad Durairaj, Vijay Babu Gandhi and Shreenidhi Srirangam, Flintobox is currently present in over 700 cities and caters to children in the age group of 2-12 years. The company recently expanded into the unorganised pre-school segment through its enterprise offering, ‘FlintoClass’, which provides everything needed to run a preschool. Ever since it was launched, FlintoClass has reached over 350 preschools across 8 countries and continues to grow at a rapid rate. Flinto Learning Solutions had previously raised equity capital of $8.6 million from various investors such as Lightbox, Globevestor, and Ashwin Chadha, a reputed venture capitalist.
Arunprasad Durairaj, CEO and Co-founder at Flintobox, said, “Having built a subscription business on solid unit economics that gives us optimal cash flow, debt investment makes a huge impact in scaling business rapidly. We're excited to partner with InnoVen for its aspiration and capability to support entrepreneurs to build large businesses in India and abroad.”
InnoVen Capital is a pan-Asian venture debt platform with offices in Mumbai, Singapore and Beijing. It has supported and provided over 175 loans to more than 125 startups across India and Southeast Asia. The platform offers multiple debt capital solutions, including venture debt, acquisition finance, growth loans, and syndication. Portfolio companies include Yatra, Oyo Rooms, Swiggy, Byju’s, Nestaway, Pepperfry, Prizm Payments, Shaadi.com, Shopclues, Myntra, Freecharge, Manthan Software, Firstcry, Practo and Capillary Technologies in India.
Last month InnoVen also invested in Mumbai-based firm that offers global executive education programmes, Eruditus Executive Education. It has also funded edtech companies like new unicorn Byju’s, and Embibe, which was recently acquired by Reliance for Rs 180 crore.