TERN Group raises USD 24 mn led by UK-based Notion Capital

New Delhi, Sep 10 (PTI) UK-based TERN group, which has about 70 per cent of its workforce in India, has raised USD 24 million (about Rs 212 crore) in a funding round led by UK-based Notion Capital, according to the company.

The company plans to utilise the fresh funds for global expansion, strengthen its AI-powered clinical workforce platform, and scale training infrastructure to prepare more Indian nurses and care workers for international careers, the company said in a statement on Tuesday.

"The company... has raised USD 24 million in Series A funding, led by UK-based Notion Capital, with RTP Global, LocalGlobe, EQ2 Ventures, and Leo Capital, along with existing investors Presight, Tom Stafford (Co-founder, DST Global), former NHS Chairman, and the CEO of AXA Healthcare, and several senior policymakers. This round brings TERN Group's total funding to USD 33 million," the statement said.

Founded by entrepreneurs from India and the UK, IIT Bombay alumnus and former executives at Urban Company and Cars24, TERN Group claims to have grown 10 times in the last year nearing Rs 200 crore in annualised revenues with presence in 13 countries.

"This funding allows us to double down on three priorities: expanding into new geographies, investing further in our AI platform, and scale our training and operations to support thousands more professionals every year," TERN Group Founder and CEO Avinav Nigam said.

The firm claims to have over 6.5 lakh professionals from 13 countries registered on its platform.

Each year, TERN Group trains around 1,000-2,000 Indian nurses, and holds over 25 per cent market share of the German language training market in India, the statement said. PTI PRS TRB