In a filing, Info Edge said that its wholly-owned subsidiary will acquire 3,986 Series A1 compulsory convertible preference shares (CCPS) of Univariety as part of the transaction, post which its shareholding in Univariety will increase to 37.9 per cent.
Univariety will use the funding proceeds for business growth, product development, scaling up its alumni platform for schools, and for deeper brand building.
The startup has made over 4,00,000 connections made so far, and claims to act as a comprehensive platform for 1,60,000+ students and 600+ premier schools across India, Singapore, Indonesia and Dubai.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India from March 19-23, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Veritas Finance||Chennai||48.7 million||Series E||Kedaara Capital, Norwest Venture Partners (NVP), Lok Capital Growth Fund, family of anchor investor P Surendra Pai.||-||Financial Services|
|CureFit||Bengaluru||109 million||Series D||Temasek Holdings Pvt Ltd.||Accel Partners, Chiratae Ventures, Castle Investments, Unilever Swiss Holdings, Epiq Capital, Pathiti Investment Trust, GableHorn Investments, Ascent Capital||Health & Wellness|
|Univariety||Hyderabad||1.1 million||Series A||Info Edge||-||EdTech|
|ImStrong Health & Wellness Pvt. Ltd||Bengaluru||400,000||Seed||Rainmatter Capital||Raghunandan G||Health & Wellness|
|Excess2Sell||Mumbai||1 million||Angel||Gautham Madhavan||-||E-Commerce|