Info Edge invests Rs 5 Cr in edtech startup NoPaperForms, takes 28% stake

Delhi-based edtech startup NoPaperForms has raised about Rs 5.66 crore from Info Edge in an all-cash deal.

Info Edge, which runs internet properties such as Naukri, Shiksha, 99acres, and Jeevansathi among others, also picks up a minority stake of 27.92% in the software-as-a-service (SaaS) firm, reported VCCircle.

Launched by Vishal Shah and Ami Damani, NoPaperForms was originally part of online career counselling and education services firm Careers360, which acquired it in 2015 for an undisclosed amount. In June, Careers360 sold the venture to its chief strategy officer Naveen Goyal in a cash-and-equity deal worth around $3 million.

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NoPaperForms has developed an enrollment automation engine which makes it easier for academic institutions to accept admission applications online. Some of its clients include St Xavier’s College in Mumbai, Delhi Public School, Jai Hind College and St Andrew’s College.

The edtech startup also provides machine learning-enabled smart data analytics modules to help institutes interpret data, benchmark performance, and measure return on investment on a real-time basis.

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Besides NoPaperForms, Noida-based Info Edge has also invested in a slew of start-ups, including food tech company Zomato, coupons site Mydala, online insurance policy aggregator PolicyBazaar, Edtech Meritnation, online photography firm Canvera, and on-demand beauty service provider BigStylist.

Also Read: Edtech startup Toppr raises Rs 45 cr in Series-B round from SAIF, others

Earlier this month, Info Edge poured in Rs 38 crores in online learning platform Meritnation, post which it holds a majority stake of 66% in the company.

In September, Info Edge had pumped in Rs 8.6 crore in its step down subsidiary company Canvera Digital Technologies; and in July, it invested Rs 8 crore in on-demand beauty service provider BigStylist.

NoPaperForms: Website