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

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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.…

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