Info Edge Invests Rs 4.5 Crore In Canvera Digital Technologies Increasing Its Stake To 26%

Internet company Info Edge has invested an amount of about Rs 4.5 crore in Canvera Digital Technologies.
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canvera.pngInternet company Info Edge, the company which runs job search portal Naukri.com , has invested an amount of about Rs 4.5 crore in Canvera Digital Technologies, a company that provides solutions to professional photographers through its portal canvera.com.

According to the BSE filing , Info Edge made the investment through optionally convertible cumulative redeemable preference shares.

This new additional investment will increase Info Edge’s stake in Canvera to 26% and total Investment to Rs 42 crore.

Back in August 2012, Info Edge had invested Rs 35 crore in Canvera Digital Technologies for a 23% stake. Earlier this year Info Edge increased the stake to 25% by increasing its investment to 37.5 crore.

The company, founded in October 2007 launched their service in July 2008 and raised funds from DFJ/ Footprint ventures and Mumbai Angels. Canvera launched e-commerce and social platform for photographers in 2011.

Earlier this month Info Edge invested Rs 10 cr ($1.61 mn) in Applect Learning Systems, the company which runs Meritnation, an online education and assessment services.

Recommended Read: Canvera – A Digital Services Company targeting Wedding Market Needs[Business Model Overview]

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