Info Edge India’s wholly-owned subsidiary Redstart Labs has invested Rs 98.94 lakhs in Brainsight Technology through convertible notes. These notes will be converted into shares on the basis of its next round’s valuation.
This is the second investment by Redstart Labs in Brainsight Technology. The company already commands a 4% stake on a fully converted and diluted basis.
The follow-on funding is a part of the strategic investment which includes making external financial investments that are focused on value creation in the medium to long term.
Incorporated in 2019, Brainsight is a healthtech firm which provides evidence-based treatment hooks for neurosurgeons, psychiatrists, and neurologists. It also provides private and digital aids for patients and related business activities.
While the firm is yet to disclose FY23’s numbers, the four-year-old company was a pre-revenue stage company as its operating revenue grew 25.3% to Rs 27.5 lakhs during FY23. Its losses stood at Rs 3.28 crore in the last fiscal year.
