Info Edge Invests into B2B Footwear Company ShoeKonnect
The parent job portal of Naukri.com and real estate website 99acres.com called Info Edge (India) Ltd has invested an amount of Rs 3 crore ($422,000) more in online business-to-business footwear marketplace ShoeKonnect.
This particular investment raised Info Edge’s stake in ShoeKonnect to 27.27% from 20% as stated by the company. This indicates the fresh infusion has come at a higher valuation.
ShoeKonnect is a brand run by Bizcrum Infotech which was founded in 2014 by three economics graduates from Delhi University named Siddharth Vij, Chaitanya Rathi and Siddharth Rastogi.
Talking about the funding, the startup raised an undisclosed amount from the Indian Angel Network in 2016. It posted revenue of Rs 37 lakh for the financial year ended March 2018.
ShoeKonnect brings manufact...