info edge

Info Edge Ventures, the investment arm of Naukri.com parent Info Edge India Ltd, has led a $1.5 million seed funding round in metaverse gaming platform AvatarLife, the startup said in a statement on Monday. This is Info Edge Ventures’ third bet in the gaming space after fantasy e-sports platform Fanclash and augmented reality-based toymaker Mirana.The startup said that it plans to use the capital for product research and development, community building and to expand its global team.Founded last year by Sushant…

Over half a dozen companies including Paytm, Bharat Matrimony, Shaadi.com, Match Group (which owns Tinder), ShareChat, and Spotify have written to the Committee on Digital Competition Law (CDCL), saying they don’t agree with apex internet industry association’s submission on the digital competition bill.Internet and Mobile Association of India (IAMAI) had submitted its views to the CDCL opposing the prescription of ex-ante regulations for digital companies, saying that ex-ante measures “may limit growth not only of the…

Consumer internet group Info Edge India Ltd, which clocked losses in the quarter-ending March 31, 2023, has written off its investments in Bizcrum Infotech, the parent company of B2B startup Bijnis, amounting to Rs 76.6 crore during the quarter. This comes close on the heels of Info Edge writing off its Rs 276 crore investment in Rahul Yadav-founded 4B Networks in the December-quarter.Info Edge, which holds around 26% stake in Bijnis, said that it made the decision “following the principles of conservatism and prudence”,…

Agri-tech startups have joined the growing list of companies which are downsizing their teams amid business model challenges and an overall squeeze in financing for privately held technology companies, industry executives and investors told ET.While Temasek-backed agriculture marketplace DeHaat fired about 5% of its employees last year, other venture capital-backed firms like Bijak, Captain Fresh, BharatAgri and Gramophone too have recently undertaken layoffs, sources told ET.Indore-based Gramophone let go of around 75…

Another edtech startup Udayy, backed by Info Edge, has shut shop, laying off all 100 employees as schools, colleges and physical tuition centres reopen.Udayy's co-founder Saumya Yadav said that the startup was witnessing the post-pandemic world for the first time as "as the kids went back to school, we faced roadblocks in growing the original model of online, live learning"."After a lot of deliberation, we decided that it's better to shut down the business than to spend more time and capital on it,a Yadav said.The…