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Deal Alert: Info Edge invests Rs 4.5 Cr in online photography firm Canvera; hikes stake to 26%

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Info Edge, the company which runs job search portal Naukri.com, has invested an additional Rs 4.5 crore in Canvera Digital Technologies, a company that provides solutions to professional photographers through its portal canvera.com. Info Edge made the investment through optionally convertible cumulative redeemable preference shares. This new investment will increase Info Edge’s stake in Canvera to 26% and total Investment to Rs 42 crore.

 Canvera, founded in October 2007, launched its service in July 2008 and raised funds from DFJ, Footprint ventures and Mumbai Angels. Canvera launched e-commerce and social platform for photographers in 2011. In August 2012, Info Edge had invested Rs 35 crore in Canvera for a 23% stake. Earlier this year, it increased the stake to 25% by increasing its investment to Rs. 37.5 crore.

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

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