InfoEdge Invests 25 crores In Online-Learning Service Meritnation

InfoEdge has informed investors that it has invested an additional Rs 25 crore in Applect Learning Systems which operates Meritnation.

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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