Info Edge (India) Ltd has informed BSE that the Company proposes to invest an additional amount of Rs. 200 million ($4.5mn) through a mix of equity and convertible preference shares in Applect Learning Systems Private Limited, i.e. meritnation.com (they earlier invested Rs. 115 million/$2.5mn in Meritnation earlier).
Meritnation offers online education and assessment business and sells CBSE, ICSE and State Board courses online.
InfoEdge’s other investment includes 99labels, Nogle Technologies, MyDala, PolicyBazaar and today announced investing $3 Million in Zomato, the online food and restaurant directory.