Info Edge To Invest $1.5 Million In Delhi-based Education Company
By VCCircle - Tue 22 Jul 2008 11:22 AM PST
Info Edge (BOM: 532777) Ltd, the owners of jobs portal Naukri.com, has made investment in another education company. Info Edge informed the stock exchanges today that it has proposed to invest Rs 6.5 crore or $1.54 million for a 40 per cent equity stake in Applect Learning Systems, a Delhi-based education content developer. It has already disbursed Rs 1 crore as part of the first tranche of the investment.
This is the second investment by Info Edge in an education company. Earlier this year, Info Edge invested $1 million in StudyPlaces Inc, as part of the latter’s $3-million series A round led by Kleiner Perkins Caufield & Byers. Info Edge also has its own education portal - Shiksha.com.
According to the website of Applect, the company provides custom content development services to corporates with a focus on Education in the K-12 segment. Their services include development of courseware, assessment items, teaching pieces, simulations, and conventional training materials.
This story was provided by our content partner VCCircle
Posted in: Venture Capital
