Info Edge, reeling from Rahul Yadav’s startup loss, now writes off Bijnis
on FridayAnonymous $KxGqLmj_R3
Info Edge, the largest shareholder in Bizcrum Infotech, the holding firm of Bijnis, has written off its entire investment in the Indian startup, citing “principles of conservatism and prudence,” in the latest drastic market correction in the fast-growing South Asian ecosystem grappling with the weakening global economy.
The publicly listed Indian investor had invested about $9.3 million in the New Delhi-headquartered startup, which has overall raised over $43 million to date and counts Sequoia India, Matrix Partners India, Waterbridge and Westbridge among its backers.
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