Info Edge (India) Ltd on Tuesday said it has invested Rs 6 crore in Happily Unmarried Marketing through its wholly-owned subsidiary.
Info Edge has agreed to acquire 1,244 optionally convertible cumulative redeemable preference shares and the cost of acquisition is about Rs 6 crore, Info Edge said in a regulatory filing.
The aggregate shareholding of the company in Happily Unmarried, post previous fund raise exercise from other investors and completion of current fund raise exercise by Happily Unmarried, would be 42.33 per cent on fully converted diluted basis, it added.
Happily Unmarried has diversified into men's grooming through its brand 'Ustraa' that is now driving the growth of the business.
The investment would help in consolidating Info Edge's position into the said line of business within the Internet Services industry, Info Edge said.
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* Google, 91springboard complete 1st edition of Google's startup advisors program
91springboard and tech giant Google on Tuesday concluded their startup advisors programme in India that was aimed at catalysing growth of high-potential start-ups through one-on-one engagement with advisors from Google.
The programme received 65 entries across various sectors like edu-tech, HR, fin-tech, travel, healthcare etc.
"91springboard carefully evaluated these entries and shortlisted seven start-ups to be a part of this esteemed program. Each of the seven shortlisted start-ups were paired with an advisor from Google best suited to guide them in their start-up journey," a statement said.
The seven shortlisted start-ups include Edurev, ReferHire, Hizen Intelligence Systems, Quick Dry-Cleaning Software, Litifer Technologies, Zimyo and Instalocate.
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