Redstart Labs (India) to Receive Investment of INR 30 cr from Info Edge (India)

Nitin Konde, Varun Bhardwaj

Oct 23, 2024 — 2 min read

Info Edge Invests in Redstart Labs

An investment of INR 30 crore has been approved by Info Edge (India) for Redstart Labs (India), a fully-owned subsidiary of the business. 3,000,000 Compulsorily Convertible Debentures (CCDs) with a face value of INR 100 each have been agreed to be purchased by the company. Redstart is still the company's wholly-owned subsidiary after this investment.

Redstart's business activities include direct or indirect investments in tech companies, software development, consulting, technical support for consumer companies, internet or SAAS providers, and any other services related to product development and information technology.

RedStart Labs Invested INR 1 Crore in BrainSightAI Healthtech Firm

According to a BSE filing, RedStart Labs (India) invested around INR 1 crore in Bengaluru-based health technology business BrainSightAI in 2023. RedStart has a 4% fully converted and diluted interest in BrainSightAI.

Online classifieds, including Naukri.com, the matrimonial site Jeevansathi.com, and the real estate marketplace 99acres.com, are all owned by InfoEdge. BrainSightAI was founded in 2019 and uses artificial intelligence to give neurologists, psychiatrists, and neurosurgeons evidence-based treatment ideas.

About InfoEdge (India)

The business was first established as Info Edge (India) Private Limited on May 1, 1995, in accordance with the Companies Act of 1956. On April 27, 2006, it changed its name to a public limited company. Info Edge began as naukri.com, an online classified recruitment company. Since then, it has expanded and changed its business model quickly, becoming a model for others to follow. Today, it is India's leading online listing company for recruitment, marriage, real estate, education, and associated services. It is driven by innovation, creativity, a strong culture of entrepreneurship, and a team of skilled and experienced leaders.

In order to capitalise on the thriving and expanding Indian internet industry, the corporation has made investments in start-ups and early-stage businesses, demonstrating its entrepreneurial spirit. The company currently owns shares in the following companies: Rare Media Company Private Limited, Goa-based Mint Bird Technologies Private Limited, Mumbai-based Green Leaves Consumer Services Private Limited, Etechaces Marketing and Consulting Private Limited, Kinobeo Software Private Limited, Canvera Digital Technologies Private Limited, Happily Unmarried Marketing Private Limited, and Zomato Media Private Limited.

Info Edge employs 4,049 people working in innovation, product development, social media and mobile integration, technology and technology updates, research and development, quality assurance, sales, marketing, and payment collection across its network of 62 offices spread across 43 cities in India. With the website www.naukrigulf.com, it has also ventured overseas into the Gulf market. At the moment, it maintains offices in Dubai, Bahrain, Riyadh, and Abu Dhabi.