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Naukri parent commits fresh capital to Adda247, Terralytics Analysis

Naukri parent commits fresh capital to Adda247, Terralytics Analysis
Photo Credit: Thinkstock
11 Nov, 2019
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Info Edge, the New Delhi headquartered company that owns jobs platform Naukri.com, will invest in online test preparation platform Adda247 and real estate intelligence and analytics startup Terralytics Analysis, according to separate regulatory filings. 

The NSE and BSE-listed company will invest about Rs 21 crore in Metis Eduventures, Adda247’s parent holding. The primary acquisition of shares comes days after Info Edge picked up a minority stake in Metis through a secondary purchase of shares.

The primary capital infusion by Info Edge is part of an about Rs 40 crore funding round in which other new and existing investors are investing Rs 12 crore, the filing said.

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Adda247 is an online government jobs preparation platform that helps students prepare for jobs via several test-specific websites, apps and YouTube channels. The latest capital infusion would help the company to diversify its presence into a new line of business within the internet services/technology industry, the filing added.

Adda247 gets over 1 million video views daily across its platforms, with more than half a million daily active users on its app and 2.5 million daily active users on the web, according to its website. Earlier this year, it acquired Delhi-based Success Ease, a YouTube channel that helps technical job aspirants prepare for competitive exams including Graduate Aptitude Test in Engineering (GATE) and Staff Selection Commission Junior Engineers (SSC JE).

Separately, Info Edge announced a Rs 5 crore investment into Terralytics Analysis, a Delhi-based company that develops real estate intelligence and analytics tools for banks, real estate developers and consultants. 

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“As part of company’s strategic investments, the investment would help the company to further strengthen its position in the real estate technology segment,” the filing said.

In October, Info Edge invested in at least four companies, according to VCCEdge data. Cloud-based payroll and human resource automation software solutions provider Greytip Software raised about $4.87 million in Series C funding led by the Naukri.com parent. It also invested in online lifestyle products shopping platform Happily Unmarried Marketing and LQ Global Services, parent of LegitQuest, a legal-tech venture.