Info Edge pumps ₹3 crore in B2B footwear startup ShoeKonnect

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Agra-based business to business (B2B) footwear startup ShoeKonnect has raised around ₹3 crore ($422,000) in a funding round from Info Edge, the parent company of job portal Naukri.com and real-estate portal 99acres.com.

With the fresh investment, Info Edge’s share in ShoeKonnect, has increased from 20% to 27.27%, according to the company’s stock exchange filings. Earlier this year in April, Info Edge had invested ₹3 crore in the footwear startup, acquiring a 20% stake.

ShoeKonnect, owned and operated by Bizcrum Infotech, was founded by three Delhi University economics graduates Siddharth Vij, Chaitanya Rathi, and Siddharth Rastogi in 2014. The B2B startup provides a platform to help footwear enterprises to connect and communicate with each other and expand their businesses. It connects manufacturers, suppliers, traders and retailers of the footwear industry.

Info Edge, an online classified company, has been actively involved in the Indian startup ecosystem. The company has businesses across domains including online educations classifieds shiksha.com and online matrimony classifieds jeevansaathi.com, apart from Naurkri.com and 99acres.com.

Some of Info Edge’s major investments in the Indian startup ecosystem include foodtech startup Zomato, an edtech startup Meritnation, online policy aggregator PolicyBazaar, and Happily Unmarried, among others.

In August 2018, it was reported that Info Edge and WaterBridge Ventures invested in healthtech startup MedCords.

In December 2017, Info Edge invested ₹12.5 crore in edtech startup Univariety.

Earlier in November 2017, Info Edge pumped in ₹38 crore in Meritnation.

Previously in September 2017, Info Edge invested ₹8.6 crore in a fresh funding round of Canvera.

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