elea partially exits Virohan investment, further validating its model of patient catalytic capital

14 March 2023

Virohan, operating in India’s booming Healthcare EdTech sector, successfully closed a pre-series B fundraising round, attracting a new lead investor to scale its operations further and drive growth. This presented elea with the opportunity of a partial exit by selling some of its shares.

elea is announcing a partial exit from its investment in Virohan, which operates in the booming Healthcare EdTech sector. Virohan trains healthcare professionals and offers youth from low-income households access to vocational training leading to administrative and technical jobs with aspirational career perspectives in healthcare. This is particularly noteworthy given that it is one of the fastest-growing industries in India and the largest employment-generating sector globally.

In 2019, impressed by the Virohan model and its founders, Kunaal Dudeja, Nalin Saluja, and Archit Jayaswal, elea became Virohan’s first early-stage institutional investor, together with Artha Impact. Leveraging existing educational institutions as partners, Virohan's partnership system enables the company to scale its impact and contribute to modernizing India’s educational sector while addressing the urgent need for talent in healthcare globally.

During the pandemic, Virohan demonstrated remarkable resilience and pushed technology development to enable fully digital operations. This led to a successful pre-series B fundraising round, attracting growth capital from Blume Ventures as the new lead investor. elea is pleased to see Blume Ventures come on board and take over a part of elea's shareholding in Virohan together with Artha, who increased their participation to remain a strong anchor investor.

In recent years, elea has built a strong partnership with Virohan through the board of directors and beyond. elea team members have been closely supporting Virohan’s strategic development, with many more touchpoints between the Virohan team and elea’s leadership as well as other members of the elea Entrepreneurs’ Community. At this point, elea sees its most active role largely fulfilled as a philanthropic early-stage investor. elea remains a committed shareholder with a smaller stake beyond the partial exit. The capital released enables elea to invest in new impact ventures, with India remaining a focus area for future elea investments.