Companies

Furtados School of Music secures Rs 20 crore funding from IAN Fund, DSG Consumer Partners

Our Bureau Mumbai | Updated on November 19, 2019

Furtados School of Music (FSM) has secured Rs 20 crore funding from IAN Fund and DSG Consumer Partners, which the music institution will use to expand its presence across major cities in the country. In addition, the funding will also be used to scale up its technology infrastructure including app services.

“We began FSM with the aim to make quality music education accessible to every individual – young and old. Since inception we have meticulously built our proposition to scale, today we are imparting music to over 60,000 students, across 14 cities which include tier I, II, and III,” Tanuja Gomes, Co-CEO & Co-Founder at FSM said.

“We are now looking to expand our business and reach a student base of over 500,000. We are also looking at enhancing our offering, with a slew of initiatives in the pipeline, which will drive our next phase of growth, over the next decade,” Gomes added.

At present, FSM has a reach of about 200 schools with over 15 centres across 14 cities in the country.

The Rs 375-crore IAN Fund invests in innovative companies in sectors including healthcare and medical devices, Virtual Reality, Artificial Intelligence, software as a service, marketplaces, fin-tech, big data, agritech and hardware.

The fund has Institutional investors like SIDBI’s Fund of Funds for Startups, IIFL, Wadhwani Foundation, Yes Bank, Max Group, Gray Matters Capital, Hyundai along and marquee individuals like Kris Gopalakrishnan, Sunil Munjal, Rajan Anandan, Kanwal Rekhi, Vikram Gandhi, Jerry Rao amongst many others.

Published on November 19, 2019

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