Info Edge India Ltd., the parent company of recruitment site, has invested INR 80 crores ($9.9 million U.S.) in Adda247, a company training government-job hopefuls.

According to the news release, Info Edge has acquired 14,088 Series-B compulsorily convertible preference shares with a face value of INR 5 per share. Following the investment, Info Edge’s stake in Adda247 stands at 23.0% on a fully converted and diluted basis. The publicly traded company had, in November 2021, invested $5.5 million into the EdTech startup.

Adda247, incorporated in 2012, provides educational services to students preparing for exams to qualify for various government jobs. Registered as Metis Eduventures Private Limited, Adda247 offers services through different platforms and channels, including web and mobile applications, YouTube, and offline classrooms.

“This follow-on investment by the company is in furtherance of its investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term,” said Info Edge. A similar strategy saw the company recently invest $11 million U.S. into proptech startup 4B Networks. Earlier this year, it made strategic investments in property brokerage firm AllCheckDeals and real estate intelligence startup Terralytics.

Info Edge owns and operates several digital businesses in India and abroad. The Noida-headquartered company has a team of over 4,500 working out of 66 offices in 45 cities across India and the Middle East. Shares in Info Edge were trading at $49.88 apiece on the NSE at the time of writing. It posted $63.8 million U.S. in core revenues for the quarter ended June 30.

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