Internet Company Info Edge pumps in INR 374 crore in its wholly owned subsidiaries
- ByTejika Bajaj | November 23, 2021
Naukri.com parent Info Edge announced that it has infused INR 374 crore in six of its wholly owned subsidiaries in an attempt to fuel growth of the company. The recent infusion has been made with the purpose of strengthening the financial health of the subsidiaries as well as to help them diversify their businesses to related areas.
The six subsidiaries include Allcheckdeals, Redstart Labs, Zwayam Digital, Do Select, Startup Investments Holding Ltd and Startup Internet Services.
The internet company has pumped INR 20 crore in Allcheckdeals, a brokerage service provider for real estate agents. The company has reported net zero revenue for the FY 2019 and FY 2020.
Further, Info Edge has infused a capital of INR 45 crore in Redstart Labs, an internet based subsidiary incorporated in 2020 which provides internet services, consultancy and technical support. Additionally, to strengthen its job vertical which accounts for the primary revenue of the business, the parent company invested INR 2 crore in DoSelect (skill assessment platform) and INR 14 crore in HR SaaS startup Zwayam Digital.
Info Edge has also announced an investment of INR 86 crore in Startup Internet Services and INR 207 crore in Startup Investments Holding Ltd, which provides management consultancy and operational assistance to businesses.
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