Applect Learning Systems, which runs the e-learning site MeritNation, has raised Rs 10 crore investment from Info Edge (India), according to a BSE filing. There's currently no information on how the company plans to use the funds raised and We are currently awaiting MeritNation's response for more details on this. Update: Meritnation has told TechCircle that the investment raised will be used for creating and updating content, brand building and strengthening its sales team. With this investment, Info Edge has invested around Rs 71.5 crore into Applect across five different rounds - a Rs 6.5 crore round in July 2008, Rs 5 crore round in May 2010, Rs 20 crore round in September 2011, Rs 30 crore round in February 2013 and a Rs 10 crore round now. Following this investment, Info Edge has mentioned that it currently owns 55.81% stake in Applect, up from around 54% stake it owned in February 2013 after the Rs 30 crore investment round. That being said, its worth noting that Info Edge already classifies Applect as a subsidiary company, and MeritNation’s website has a banner stating that it is a “Naukri.com group venture”. MeritNation is an e-learning site which caters to school students (Class 1-12) across various educational boards like CBSE, ICSE, Maharashtra state board (MSBSHSE), Karnataka state board (KSEEB), Tamil Nadu state board (Samacheer Kalvi) and others. It also offers study material and mock tests for competitive exams like IIT JEE and NEET and free NCERT solutions, subject-wise synopsis and chapter-wise revision notes for classes 6-12. The company currently claims to have around three million users across…
