Indian staffing firm Info Edge announced that its Board of Directors has approved entering into an agreement to invest approximately INR 800 million (USD 9.8 million) in Metis Eduventures Private Limited, owner of government training platform Adda247.

Last year Info Edge invested INR 412 million (USD 5.1 million) in Metis Eduventures (Adda247).

This latest investment is Info Edge’s fourth investment in Adda247 since 2019.

Adda247, which was incorporated on 16 February 2012, is engaged in the business of delivering educational services and assistance to students preparing for examinations through software technology platforms (both web and mobile applications) and is additionally engaged in delivering educational services through offline classroom based methodology.

The aggregate shareholding of the company, post this investment, in Adda247 would be 23.01% on a fully converted & diluted basis.

The group said Adda247 is an associate company of Info Edge, and this is a related party transaction, adding that promoters have no interest in the investment.