wordpress blog stats
Connect with us

Hi, what are you looking for?

MeritNation To Raise Rs 20 Crore From Info Edge

Applect Learning Systems, which runs the e-learning site MeritNation, is about to raise Rs 20 crore from Info Edge, in a fresh round of funding. Info Edge informed the Bombay Stock Exchange, that the investment will be made through a mix of equity and convertible preference shares in the company. MeritNation is an e-learning site that targets students giving school exams in India.

This brings the company’s total investment in MeritNation to Rs 30.5 crore. Info Edge had picked up a 40% stake in MeritNation for Rs. 6.5 Crores, and had invested another Rs 5 crore in the company, last year. Info Edge classifies Applect as a subsidiary company, and MeritNation’s website has a banner stating that it is a “Naukri.com group venture”.

This follows Info Edge’s Rs 13.5 crore investment in online restaurant guide Zomato. The company’s recent investments include Rs 10 crore in eTech Aces, Rs 15.7 crore in 99Labels and Rs 9 crore in MyDala.

You May Also Like

News

Swiggy has raised $800 million in a funding round with Falcon Edge Capital, Amansa Capital, Think Investments, Carmignac, and Goldman Sachs joining as new...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ