Info Edge India Ltd., the parent company of recruitment vertical Naukri.com, is to invest INR1.354 billion ($16.6 million U.S.) in CodingNinjas, subject to the fulfilment of certain conditions. CodingNinjas is an EdTech platform specializing in computer programming. Founded in 2016, it has seen strong growth over recent years, with turnover rising from $1.5 million to $3.5 million between its financial year (FY) 2020 and FY 2022.

This move is part of Info Edge’s wider strategy of ramping up its presence in training: Last month, it made a $10 million investment into EdTech startup Adda247, which specializes in preparing candidates for civil service exams.

According to the announcement, Info Edge is purchasing 22,836 compulsorily convertible preference shares for INR10 each and 27,089 equity shares for INR10 each. As a result, Info Edge has increased its stake in Sunrise Mentors Pvt. Ltd., the parent of CodingNinjas, from 26% to 51%, on a fully converted and diluted basis.

“This investment will help us explore and maximize business synergies between CodingNinjas and our recruitment marketplace Naukri.com,” Info Edge said.

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. It posted $63.8 million U.S. in core revenue for the three months to June.

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