India, July 9 -- Education-focussed NBFC Varthana has secured INR 159 Cr (about $18.6 Mn) in debt funding from BlueEarth Capital, Franklin Templeton Alternative Investments (Franklin Templeton AIF) and responsAbility.

While responsAbility subscribed to non-convertible debentures (NCDs) worth INR 65 Cr, Swiss-based investor BlueEarth Capital subscribed to external commercial borrowings (ECBs) worth INR 69 Cr. Franklin Templeton infused INR 25 Cr in the NBFC.

The NBFC plans to use the funding to expand access to quality education across India and support schools in building a sustainable and energy-efficient infrastructure, it said in a statement. Further, it also plans to enhance access to solar and renewable energy solutions in schools....