Info Edge bets on B2B marketplace Bijnis again after 2023 write-off
Info Edge, owner of Naukri and Jeevansathi, is backing B2B wholesale platform Bijnis through a Rs 5 crore Series B2 investment via subsidiary Startup Investments (Holding) Ltd. The investment values the shares at Rs 2,111.19 each. This marks a reversal after Info Edge wrote off approximately Rs 77 crore invested in Bijnis in 2023 due to high cash burn and fundraising challenges. Bijnis operates a footwear and apparel marketplace with dark store hyper-local delivery.
Key points
- Info Edge invests Rs 5 crore in B2B platform Bijnis
- Stake increases to 20.12% on diluted basis
- Reverses 2023 write-off following cash burn concerns
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