Info Edge, through its wholly-owned subsidiary, has invested Rs 3.43 crore in a Delhi-based Business-to-Business (B2B) mobility and SaaS company Blue Dolphin, run and owned by Rare Media, the company informed BSE. Rare Media is an associate company of Info Edge, thus making it a related party. The deal is done on arm length basis, which means both the companies will run independently. With this investment, Info Edge holds 43.86% stake in the company on fully converted and diluted basis. The Delhi-based company was incorporated in 2012, and offers enterprise field force automation platforms like attendance apps. It offers products to clientele across verticals such as healthcare, retail, hospitality, among others. The startup had previously raised $1.1 million from Info Edge in 2015. Info Edge's recent investments This is an interesting and different investment in recent past, as Info Edge mostly invests in marketplaces. This month, the company invested Rs 3 crore in B2B shoe marketplace ShoeKonnect. ShoeKonnect is run by Bizcrum Infotech, brings all stakeholders—manufacturers, wholesalers, retailers and component traders etc—on one platform in order to communicate and buy/sell products. It charges commission on each transaction while handling payments and logistics. In December 2017, Info Edge invested Rs 12.5 crore in an education service startup Univariety, which provides products, services, and counseling to students, schools, colleges, and educators. In September last year, Info Edge increased its stake in an online photography services start-up Canvera, from 57% to 62.22%. And then in November, it increased its stake to 65.67% in Applect (MeritNation) from the earlier 56%.
- IT Minister Ashwini Vaishnaw says Google cannot remove apps of Indian companies, calls for meeting March 2, 2024
- Paytm Payments Bank fined Rs 5.49 crores for violating anti-money laundering law March 2, 2024
- Paytm discontinues its agreements with Paytm Payments Bank March 2, 2024
- European media groups sue Google for $2.3 billion over digital ad losses March 1, 2024
- US Executive Order Targets Protection of Sensitive Data from Foreign Threats March 1, 2024
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