Info Edge, India's premier online classifieds company in recruitment, real estate, education, and related services, has entered into an agreement to invest INR 10 Crore in Univariety, an education technology-driven career guidance and alumni management platform.
According to the company's filing, it has agreed to acquire 9,471 Series A2 Compulsory Convertible Preference Shares, having a face value of ₹100 each. After this investment, Info Edge's aggregate shareholding in the company would be 47.12 percent on a fully converted and diluted basis.
The transaction is expected to be completed within six months.
Launched in 2015 by Jaideep Gupta, Univariety provides counseling products and services to students, schools, colleges, and educators, enabling students and parents to make better-informed decisions on higher education. It helps students make well-informed and better-suited career choices that help them achieve their potential.
Univariety's mission is to provide world-class guidance solutions to students, parents, schools, universities, and counselors and foster continuous learning within its ecosystem. The company claims that on average, its platform conducts over 1.5 lakh counseling sessions each year.
The company has served over 350+ schools in the country, such as Oakridge International Schools, Alchon International School, Ryan International Schools, Podar International Schools, Assam Valley School, Hyderabad Public School, Christ Junior College, Scindia Kanya Vidyalaya, TIPS, and more.
The Hyderabad-headquartered firm has partnered with Fortune India magazine to develop India's most advanced school evaluation platform called "Fortune 50 Schools Shaping Success", which has its presence spread across 82 cities, 654 Schools, 12,587 educators, and 1,25,921 students.
Info Edge has made several investments in startups across sectors as a part of its larger strategy of maintaining a presence across the country's growing internet and frontier services ecosystem.
Noida-headquartered Info Edge also earlier invested $1.06 million (INR 8 Crore) in Univariety in cash. In 2020, the company had invested in Sunrise Mentors Pvt Ltd, a Delhi-based firm that operates online learning platform CodingNinjas. One of its major investments is in food delivery and restaurant search platform Zomato.