wordpress blog stats
Connect with us

Hi, what are you looking for?

Info Edge invests Rs 3 crore in real estate risk assessment platform Zippserv


Info Edge, through its wholly-owned subsidiary, has invested Rs 3 crore in a real estate risk assessment platform Zippserv, which is run-and-owned by Ideaclicks Infolabs, the company informed BSE.

The deal has been done on an ‘arm’s length’ basis, which means both the companies will run independently. With this investment, Info Edge holds 45.31% stake in the company on fully converted and diluted basis. Note that Info Edge had previously invested Rs 2.4 crore in Zippserv.com for 28% stake, Info Edge’s annual report 2016-17 shows.

Founded in 2015, Bangalore-based Zippserv is an online assessment platform which provides risk assessment for safeguarding real estate investments, including legal & civil engineering due-diligence, fraud & forgery detection and technology to ascertain encroachments & city planning violations. The company has two flagship products — CleanProperties and PricePoint. CleanProperties provides instant access to land titles, conversion records, building approvals, liens and litigations for ongoing apartment projects. PricePoint’s analytics engine tracks recently registered sale transactions and gives granular actionable insights for buyers at a project level so that buyers get a leg up in negotiations. The company is currently offering its services for properties in Bangalore and Hyderabad, and will soon launch in Pune. The startup posted a turnover of Rs 32.87 lakh for FY 2018,  as compared to Rs 14.95 lakh in FY 2017, and Rs 1.63 in FY 2016.

Info Edge said in its filing that the deal will help the company to consolidate its presence into a new line of business within the Internet services industry.

Note that Info Edge’s online real estate portal 99acres.com is facing a slowdown. While revenues and billings have grown, the usage parameters reflect a slight opposite trend with a reduction in user traffic during FY 2018, the company says in its annual report 2017-18.

Info Edge’s Investment focus

In its Q4 FY18 earnings call, Hitesh Oberoi, Managing Director & CEO said that Info Edge will continue to invest in areas like product development and machine learning to improve its matching algorithms and the mobile user experience.

During FY 2017- 2018, Info Edge made investments in four new startups, Wishbook, which is a B2B cataloguing app and marketplace connecting manufacturers, distributors, wholesalers, retailers, and sellers. Univariety, a career and university admission counselling platform for class 9 to 12 students.
NoPaperForms which is a SaaS-based solution for educational institutions, and, Gramophone which serves Agri and commerce and crop advisory for farmers. It also did follow-on rounds of investments in Policybazaar, Happily Unmarried, Meritnation, and Canvera.

You May Also Like


Food delivery and aggregator Zomato last week filed for an initial public offering with the SEBI; Zomato’s largest shareholder InfoEdge will be divesting a...

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
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