Private Equity VC Fund Investments
Edtech co Adda247 to raise Rs.80-Cr more from Info Edge
Publicly listed Info Edge (India) is to invest about INR.80 crore more in New Delhi-based Metis Eduventures Pvt Ltd (Adda247). Info Edge would acquire 14,088 Series B Compulsorily Convertible Preference Shares (CCPS) having face value of INR 5 each. Its aggregate shareholding, post this investment, would be 23.01% on a fully-converted & diluted basis.
Adda247 delivers educational services and assistance to students preparing for examinations through software technology platforms. It also delivers services offline.
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In Nov-21, Adda247 had raised USD 20 million (about INR 150 crore) in a Series B round led by WestBridge Capital, with participation from existing investor Info Edge, Asha Impact and JM Financials.