InfoEdge has informed investors that it has invested an additional Rs 25 crore in Applect Learning Systems which operates Meritnation.
Meritnation is a service that specialises in offering kindergarten to Class 12(K-12) assessment based learning programs via the web.
The investment has been made through optionally convertible cumulative redeemable preference shares, informed InfoEdge in a release.
In all, InfoEdge has increased its investment to about Rs 97 crore (approx $15mn) in Applect Learning Systems and has upped its stake from the 55.81% it controlled at the end of 2013.
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