Info Edge, the parent company of naukri.com, has strategically invested over Rs 1,000 crore in more than 50 artificial intelligence and deep-tech startups since 2020, positioning itself as a key enabler of India’s burgeoning technology ecosystem.
IMAGE: InfoEdge Founder Sanjeev Bikhchandani. Illustration: Dominic Xavier/Rediff
Key Points
- Info Edge has invested over Rs 1,000 crore in more than 50 AI and deep-tech startups since 2020, becoming a significant early backer in India’s technology ecosystem.
- The AI portfolio, comprising 28 startups, is valued at Rs 1,268 crore against an investment of Rs 614 crore, yielding a 2.1x multiple and a gross IRR of approximately 31 per cent.
- The deep-tech portfolio, with 30 startups in areas like robotics and space-tech, is valued at Rs 559 crore against Rs 455 crore invested, showing a 1.2x multiple and a 15 per cent gross IRR.
- Info Edge believes AI, deep-tech, and consumer technology will drive future value creation, with India increasingly building globally relevant technology companies.
- Consumer technology firms still constitute the largest share of Info Edge’s startup portfolio, with Rs 2,755 crore invested across 45 companies, valued at Rs 37,214 crore.
Info Edge, the parent company of naukri.com, has emerged as one of the early backers of the country’s artificial intelligence (AI) and deep-tech ecosystem, as the firm has invested over Rs 1,000 crore in more than 50 startups since 2020.
In a letter to shareholders, filed with the exchanges on Monday, Info Edge said it has invested Rs 614 crore across 28 AI startups to date and Rs 455 crore across 30 deep-tech startups.
AI and Deep-Tech Portfolio Performance
The AI portfolio, which comprises companies including those working in the domain of enterprise AI, consumer AI and AI infrastructure, is currently valued at Rs 1,268 crore against investments of Rs 614 crore, translating into a 2.1 times multiple on invested capital and an approximate gross internal rate of return (IRR) of about 31 per cent.
On the other hand, the deep-tech portfolio, which includes robotics, semiconductors, space-tech, bio-tech and electric mobility startups, is valued at Rs 559 crore against investments of Rs 455 crore, implying a 1.2 times multiple and an estimated gross IRR of around 15 per cent.
Across all sectors, Info Edge and the alternative investment funds (AIFs) it manages have deployed around Rs 4,900 crore into 135 startups.
The portfolio is currently valued at roughly Rs 41,300 crore. “We believe future value creation will be driven by three themes predominantly — AI, deep-tech and consumer technology — with AI expected to reshape both startups and established internet businesses.
In our view, India is entering a period where globally relevant technology companies will increasingly be built from India, not just for India,” the company said.
Government Backing and Follow-on Funding
According to Info Edge, 15 of its 28 AI and 13 of its 30 deep-tech startups have already raised follow-on funding rounds from investors including Peak XV, SIG, and others.
Info Edge also highlighted that several of its portfolio companies have also received backing under government programmes.
For instance, voice AI startup Gnani.ai was selected under the IndiaAI Mission, meanwhile, space-tech and advanced mobility startups ePlane and Manastu Space secured allocations under the government’s Research, Development and Innovation (RDI) scheme.
Consumer Technology Remains a Core Focus
While AI and deep-tech represent the company’s latest bets, consumer technology firms still continue to account for the largest share of its startup portfolio.
Info Edge said it has invested Rs 2,755 crore across 45 consumer tech and consumer AI startups, and the portfolio is now valued at Rs 37,214 crore.
It includes listed companies such as Eternal, which is the parent firm of Zomato and Blinkit, PB Fintech, as well as startups across travel, healthcare, commerce, gaming, fintech and education.
