Info Edge, an India-based job board, announced Redstart Labs, a wholly-owned subsidiary of the company, has in its meeting of the board of directors held yesterday, agreed to invest about USD 500,000 in SkyServe Inc. at the applicable exchange rate.

SkyServe, based in the US, provides an Insights-as-a-Service platform enabling satellite-based edge computed insights for core industries and solution providers to scale faster and affordably. Skyserve feeds multispectral imagery to models deployed on the edge and facilitates timely predictions.

The company said the indicative time period for completion of acquisition is within one month.

The aggregate shareholding of the company through Redstart, post this investment, in the said entity would be 5.55% on a fully converted & diluted basis.

Being a cross border (automatic route) transaction, it is to be carried out in accordance with requisite approval taken under with Foreign Exchange Management Act, 1999, as amended and Overseas Investment Guidelines, 2022.

This investment by the company through Redstart is in furtherance of Info Edge’s investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term.