Info Edge India Ltd., the parent company of and 99Acres, has invested an additional INR250 million ($3.0 million U.S.) in Zwayam, an HRtech company specializing in AI-powered recruitment management.

Zwayam was acquired by Info Edge in 2021. The Bengaluru-based startup has since operated as a wholly-owned subsidiary of the company. The latest cash infusion, Info Edge says, is required to meet the working capital requirements of Zwayam. Info Edge previously invested INR100 million in Zwayam in August 2023.

The acquisition of Zwayam is part of Info Edge’s strategy of building a group of digital businesses that can work with its recruitment and real estate subsidiaries — and 99Acres, respectively.

According to Info Edge, Zwayam posted a profit after tax of INR25.5 million for the 12 months to March 2023, while its turnover grew by 231% year on year to INR385 million.

Info Edge has more than 4,500 employees in 66 offices across 45 cities in India and the Middle East. It posted revenue of INR6.5 billion for the three months ending September 2023.

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