Ipsaa eyes investing Rs 100 crore to expand its operations
Ipsaa is eyeing at investing Rs 100 crore to more than double its centres across India by 2020. The day-care chain is further in talks with private equity players to raise $10 million in the next 12-18 months.
Shiv Mittal, Co-founder and CEO, Ipsaa, said, "We are looking at opening 125 more day-care centres across the country by 2020, taking the total count to 200. All our centres are company-owned and operated and we plan to invest Rs 100 crore to fund our expansion plans."
The company is also planning to raise $10 million through Series A funding in the next 12-18 months.
"A few private equity players have expressed interest in investing in Ipsaa Day Care Centres. It is in talking stage right now," Mittal added.
He further stated, "Growing working population in India has led to significant demand of credible and quality child care. We have observed a substantial increase in demand from tier 2 cities, and will be instituting over 125 new centres in Ranchi, Coimbatore, and other cities."
Presently, Ipsaa is operating more than 75 centres in Delhi, Noida, Gurgaon, Mumbai, Chennai, Bangalore, Goa, Pune, Jaipur, Hyderabad and Kolkata.