Info Edge, India’s leading online classified company in recruitment, real estate, education and related services, has agreed to invest Rs 10 crore in the university, a career guidance and alumni management platform based on education technology.
According to the company’s filing, 9,471 Series A2s with a face value of 100 each have agreed to acquire mandatory convertible preference shares. Following this investment, Info Edge’s total stake in the company will be 47.12 per cent on a fully converted and diluted basis.
The transaction is expected to be completed in six months.
Launched in 2015 by Jaideep Gupta, the university provides counseling products and services to students, schools, colleges and teachers, enabling students and parents to make more informed decisions about higher education. It helps students make well-informed and well-informed career choices that help them achieve their potential.
The University aims to provide world-class mentoring solutions to students, parents, schools, universities and counselors, and to enhance continuous learning in its ecosystem. The company claims that its platform conducts more than 1.5 lakh counseling sessions annually.
The company serves more than 350+ schools across the country, including Oakridge International Schools, Alchon International School, Ryan International Schools, Podar International Schools, Assam Valley School, Hyderabad Public School, Christ Junior College, Sindia Kanya Vidyalaya, TIPS, and more. . .
The Hyderabad-based firm has partnered with Fortune India Magazine to develop India’s most advanced school evaluation platform called “Fortune 50 Schools Shaping Success”, which is spread across 82 cities, 654 schools, 12,587 teachers and 1,25,921 students.
Info Edge has invested heavily in startups in various sectors as part of its larger strategy to maintain its presence in the country’s growing Internet and Frontier Services ecosystem.
Noida-headquartered Info Edge had earlier invested रोख 1.06 million (INR 8 crore) in cash in the university. In 2020, the company invested in Sunrise Mentors Pvt Ltd, a Delhi-based company operating the online learning platform CodingNinjas. One of its major investments is the food delivery and restaurant search platform Zomato.
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