Coding Ninjas raises Rs 135.4 crore in funding from Info Edge

• ByStartupStory     |    October 4, 2022

 Noida-based internet behemoth Info Edge (India) has invested Rs 135.4 crore in the edtech firm Coding Ninjas, expanding its shareholding from 26% to 51%, and thereby becoming the biggest stakeholder in the company.

The Company now owns around 26% of Coding Ninjas, and after this transaction, the total ownership of the Company in Coding Ninjas, on a fully converted and diluted basis, would be 51%. As a result, Coding Ninjas would join the Company as a subsidiary, according to Info Edge’s regulatory filings.

The most recent investment values Delhi-based Coding Ninjas at over Rs 541 million. By making this investment, Info Edge will be better able to identify and utilise the commercial synergies between Naukri and Coding Ninjas.

Coding Ninjas is an educational technology platform founded in 2016 by Ankush Singla, Kannu Mittal, and Dhawal Parate that specialises in instructing beginners in coding and other programming subjects.

In the Financial Year 2022, Coding Ninjas recorded a turnover of Rs 28.9 crore, up 45.2% from the FY21 figure of Rs 19.9 crore. The Naukri parent group bought a 23.01% interest in the startup Adda247 for language exam preparation last month.

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