Info Edge (India) Ltd, the technology firm which owns and operates portals such as job site Naukri.com, has invested Rs 6 crore (approximately $844,200 at current exchange rates) in Happily Unmarried Marketing Pvt. Ltd (HUMPL), a lifestyle brand which sells grooming products.
Mumbai-listed Info Edge said in a stock-exchange filing it will buy 1,244 optionally convertible cumulative redeemable preference shares of HUMPL. The company’s stake in the startup following this investment will stand at 42.33% on a fully converted and diluted basis.
Previously, Info Edge invested in HUMPL in November 2017 in a round in which Wipro Consumer Care, the personal care arm of Wipro Enterprises, also took part.
Noida-based Info Edge said this latest investment is part of its strategic plan of consolidating its presence in different segments of the internet services industry.
Founded in 2007, the Delhi-based Happily Unmarried offers personal care products ranging from face and body wash to shaving foam and cologne. While products under the ‘Happily Unmarried’ brand cater to both sexes, the ‘Ustraa’ line of products is targeted exclusively at men.
Info Edge operates a slew of Internet properties, including real estate portal 99acres.com, matrimonial website Jeevansathi and education services portal Shiksha. Besides, it holds stakes in several technology firms such as restaurant search platform Zomato, ed-tech entity NoPaperForms, online insurance aggregator PolicyBazaar and e-learning firm Meritnation.
In August, the company invested Rs 47 crore (around $6.6 million) in ShopKirana E-Trading Pvt. Ltd, an e-commerce platform. The investment was part of a larger Rs 71.4 crore Series B fundraising round by ShopKirana. Previously, Info Edge invested $2 million (around Rs 14 crore) in ShopKirana in December last year.