Funding Roundup: Info Edge Invests in MyDala, PolicyBazaar

So what if you can’t build it, you can surely be a part of their story!

That’s the InfoEdge mantra and while Naukri rules the job market, the company needs to expand into several new categories that are growing in the Indian Internet space. Of all the corporate stories of investments, InfoEdge surely leads the race with focused investments in Internet companies that have offline business models.

In the last few days, InfoEdge has announced two major investments:

$2 million/INR 90 Million in MyDala

Info Edge (India) Ltd has informed BSE that the Company has approved an investment of Rs. 90 million in Kinobeo Software Private limited, engaged in business of providing online group deals through their website:

mydala recently forayed into travel deals as well.

INR 100 million in PolicyBazaar

Info Edge (India) Ltd has informed BSE that the Company proposes to invest an additional amount of Rs. 100 million in Etechaces Marketing and Consulting Private Limited, a Company which is in the business of distributing financial products online. Till now the Company has already invested Rs. 200 million as committed in the first round.[source]

The company earlier invested Rs. 20 Crore for 49% stake in EtechAces.

Reliance Venture Funded LBS Company Acquired by Groupon

Reliance Venture funded LBS startup, Pelago has been acquired by Groupon.

The mission alignment of the two companies and the fact that we’ve taken very different approaches is a big part of what makes this marriage non-strange, and in fact, very complementary and compelling.  And what made this a no-brainer was Groupon’s massive adoption and meteoric growth.  The opportunity to take the collective brain power and technology of our two companies and point them at a phenomenon already at huge scale is virtually impossible to refuse.

What does this mean for Whrrl?  We’ve made the decision to close the curtain on Whrrl for now.  Think of it as the end of the first act of a long and complex play.  You would be right to expect that the ideas underpinning Whrrl and many of the inventions contained within may reemerge under the Groupon banner.”[blog]

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