Info Edge (India) Limited, an Indian pure play internet company, announced it has invested in edtech company Juno.
According to the company’s exchange filing, “This is to inform you that the Company has entered into an agreement to acquire securities in Juno Learning Pvt. Ltd. (“Juno”) for an amount of about Rs.11.25 Cr.”
As part of the Company’s strategy, the investment would help the Company create and consolidate its presence into a niche vertical of “Sales upskilling”. It perfectly fits into the Company’s playbook to invest in adjacencies to recruitment and education verticals and create synergies with its existing businesses, the statement said.
“The Company has agreed to acquire 4,331 Compulsorily Convertible Preference Shares having face value of Rs. 10/- each as Primary acquisition of shares. The aggregate shareholding of the Company, post this investment, in the said entity would be 25% on a fully converted & diluted basis,” according to the exchange filing.
Founded by Tarun Matta, Juno is building an interactive online school that teaches sales techniques, processes, and tools to entry-level professionals and students in an experiential manner, to enhance employability. Tarun Matta, has successfully built platforms like iimjobs.com and hirist.com (online recruitment platforms in Management and Engineering space) as an entrepreneur and later for Infoedge post its acquisition.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.