Info Edge India Ltd., the parent company of Naukri.com and 99Acres, has invested INR 23.41 crores ($2.8 million) in Lumiq, a data analytics startup.

According to an exclusive report, Info Edge led Lumiq’s Series A funding round, which also saw participation from Season Two Venture and RedStart Labs. While Info Edge invested $2.8 million, Season Two Venture and RedStart Labs put up $2.8 million and $145,000, respectively, taking Lumiq’s total Series A tally to about $5.5 million. Lumiq issued 2,689 CCPS at an issue price of $1,992 per share to raise the said amount.

Info Edge had previously led Lumiq’s $2 million seed round. The data analytics startup is known for its ‘emPower’ product, which enables financial enterprises in the banking and insurance sectors to activate and monetize their data. The investment is seemingly part of Info Edge’s business strategy of exploring synergistic opportunities for its core verticals, 99Acres and Naukir.com.

The same strategy has seen Info Edge deploy capital into a host of digital-first companies across sectors. In the last month alone, the Noida-headquartered consortium has invested in three different companies. It invested $11.3 million in proptech company 4B Networks, before deploying $9.9 million into EdTech startup Adda247. These investments were followed by a $16.6 million cash infusion into another EdTech platform CodingNinjas. Info Edge was an existing investor in all the beneficiaries.

Info Edge owns and operates several digital businesses in India and abroad. The 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 in core revenue in Q1, FY22-23. Its shares were trading at $46.9 apiece on the NSE at the time of writing.

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