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