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Info Edge invests $2.2M more in online photography firm Canvera

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canvera_ledInfo Edge (India) Ltd, which runs a slew of consumer internet properties such as Naukri, 99acres, Jeevansathi and Shiksha, has invested Rs 15 crore ($2.2 million) more into Bangalore-based online photography startup Canvera Digital Technologies Pvt Ltd.

The latest round takes Info Edge's total investment in the company to Rs 90.1 crore. The e-commerce firm now owns a 49 per cent stake in the startup, Info Edge said in a stock exchange filing.

Info Edge said the latest investment was made at Canvera's pre-money valuation of about Rs 75 crore, indicating that the startup's valuation is not increasing.

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In October 2014, Info Edge had infused Rs 10 crore ($1.64 million) in Canvera. And in March last year, Info Edge had put in Rs 13.5 crore into the startup.

Founded by Dhiraj Kacker and Peeyush Rai in 2008 as a web-enabled photo-book company, Canvera entered associated e-commerce in March 2011. It provides solutions to professional photographers via its website Canvera.com. It prints photo books, provides design services and also offers hosted software solutions for photographers through a software-as-a-service model.

Headquartered in Bangalore, the company has regional offices in Chandigarh, Delhi, Kolkata, Chennai, Hyderabad, Ahmedabad and Mumbai.

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Info Edge has earlier funded several startups such as Zomato, Policybazaar and MyDala.

Beauty-services marketplace BigStylist had recently raised $1 million in pre-Series A funding from Info Edge (India) Ltd.

In May 2015, it had invested Rs 25 crore ($4 million) more in Applect Learning Systems Pvt Ltd, which operates the online education and assessment venture Meritnation.

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