Info Edge (India) Ltd, a prominent player in the Indian internet industry, has announced an investment of INR 25 crore ($3 million) in Zwayam Digital Pvt. Ltd, its wholly-owned subsidiary. This strategic investment is aimed to amplify the subsidiary’s product assortment and widen its market penetration. The deal is a testament to Info Edge’s dedication towards nurturing growth in its portfolio companies and fortifying its foothold in the HRTech domain.
The firm’s decision is also consistent with its long-term strategy of investing in technology startups and innovative platforms that can supplement and enhance its existing services. Info Edge’s financial backing in Zwayam Digital will empower the latter to bolster its technological competencies, enrich the customer experience, and expedite business growth.
Co-founded in 2015 by Joseph John, Nicel KM, Divya T and Shreyas Tonse, Zwayam Digital is an AI and ML-powered recruitment management SaaS platform which helps enterprises streamline and automate the end-to-end recruitment workflow from sourcing and onboarding to other recruitment solutions with configurable plug and play modules. The company is dedicated to bringing about this shift because it feels that the recruitment market has to be drastically simplified.
Info Edge (India) Ltd, incorporated on May 1, 1995, primarily operates in recruitment solutions, real estate, matrimonial, and education services. The company has a network of 79 offices situated in 55 cities across India and has also ventured into the Gulf market. With this investment, Info Edge continues demonstrating its commitment to fostering innovative platforms and technology startups, thereby contributing to a dynamic internet industry in India.
Info Edge, the parent company of the popular job portal Naukri.com, has a history of investing in various businesses. Previously, it invested Rs 25 crore in HappilyUnmarried, a consumer brand concentrating on youth-centric products and services. The investment aimed to enable HappilyUnmarried to diversify its product range and reach a larger audience. Furthermore, Info Edge announced an investment of the same amount in Bizcrum Infotech, the operator of the online platform Shiprocket. The investment, made through a blend of primary and secondary transactions, secured Info Edge a 17.82% stake in Bizcrum Infotech.