Info Edge has recently invested INR 10 Cr. in Canvera Digital Technologies that owns and operates the online photography company Canvera.com through optionally convertible cumulative redeemable preference shares in Canvera Digital Technologies Private Limited, which is engaged in the business of providing solutions to professional photographers, as informed to BSE.
Canvera is an online photography company primarily focused on the needs of professional photographers through a platform that tightly integrates lead generation, web hosting, ecommerce, online collaboration, print and design services. It was founded by Dhiraj Kacker and Peeyush Rai in 2008 as a web-enabled photobook company, and later in 2011 it entered into associated ecommerce.
Info Edge has previously it had invested INR 4.5 Cr., INR 1.5 Cr, and INR 13.5 Cr. in Canvera. In 2012 it invested INR 35 Cr. in the company. The aggregate investment, including the above, is now INR 67.1 Cr. in Canvera Digital Technologies Private Limited which translates to about 36% stake in the Company on a fully converted and diluted basis.
Canvera has also raised undisclosed investment from Footprint Ventures, Draper Fisher Jurvetson, Mumbai Angels and two angel investors from the UK in 2008.
Canvera is headquartered in Bangalore, with offices in 7 cities.
With this, Info Edge has also invested INR 4 Cr. Happily Unmarried Marketing Private Limited which owns and operates the site Happilyunmarried.com and also has offline presence.
Happily Unmarried is engaged in the business of sale of fun quirky India-centric designs across gifting categories such as apparel, glassware, travel accessories, office and stationery. Based out in Delhi It was started in 2003 by two friends, Rajat Tuli and Rahul Anand.
Previously, Happily Unmarried had raised INR 5 Cr. from Infoedge in November 2012, taking the aggregate investment of Info Edge into it, including the above to INR 9.4 Cr. which translates to about 34% stake in the company, as informed to BSE.
A Few others dealing in the same space include, Chumbak which received Series B investment from Matrix Partners India with participation by existing seed investor, Seedfund India.