India – Info Edge takes minority stake in Shop Kirana E Trading

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Info Edge India, the Indian job board, has invested, through its wholly-owned subsidiary, INR 134 million (USD 1.89 million) in Shop Kirana E Trading. Along with the investment, Info Edge has agreed to acquire a 15.5% stake in the company.

Shopkirana is engaged in the business of developing a B2B ecommerce platform for ordering, delivery, payments and related products/services among various stakeholders in grocery/Fast-Moving Consumer Goods supply chain.

Info Edge stated that the acquisition will help the company to diversify its presence into the new line of business within the internet services industry.

Last month, Info Edge invested INR 30 million (USD 0.4 million) in Bizcrum InfoTech (ShoeKonnect). Bizcrum develops ShoeKonnect, a B2B (Business-to-business) marketplace mobile app that enables footwear brands, manufacturers, wholesalers and retailers to connect, communicate & transact with each other for conducting and expanding their business.

Source:: http://www2.staffingindustry.com/row/Editorial/Daily-News/India-Info-Edge-takes-minority-stake-in-Shop-Kirana-E-Trading-48314

      

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