Startup news and updates: daily roundup (Mar 05, 2022)

Info Edge acquires 76 pc stake in online dating firm Aisle for Rs 91 Cr

IT company Info Edge, which owns platforms Naukri.com and Jeevansathi, has acquired a 76 percent stake in online dating company Aisle Network for Rs 91 crore, as per regulatory filings.

Aisle runs multiple dating platforms on the web and mobile apps — Aisle, Anbe, Arike and HeyDil, which allow users to browse through profiles of other users with the intent of finding their suitable partner.

"The company (Info Edge) has agreed to acquire 21,483 shares, comprising 11,699 compulsory convertible preference shares and 9,784 equity shares via a mix of primary infusion and secondary purchase. The aggregate shareholding of the company, post this investment, in the said entity would be about 76 percent on a fully converted and diluted basis," the filing read.

According to the filing, the acquisition has been completed immediately. Aisle had a turnover of Rs 7.56 crore in 2020-21.

Nazara to acquire 33 pc stake in Datawrkz, invest Rs 30 Cr in subsidiary

Digital gaming and sports firm Nazara Technologies will acquire a 33 percent stake in Datawrkz Business Solutions, the company said in a regulatory filing on Friday. In addition to this, the board of Nazara Technologies has approved an investment of up to Rs 30 crore in its subsidiary Next Wave Multimedia.

The board has approved the issuance of around 1.1 lakh equity shares at an issue price of Rs 2,260 apiece aggregating to about Rs 24.99 crore for acquiring 22,499 equity shares of Datawrkz Business on a preferential basis, Nazara Technologies said.

The Nazara Technologies board has also doubled the loan or investment limit of the company in any entity to Rs 1,000 crore from Rs 550 crore earlier.

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Emami acquires 19 pc stake in D2C nutrition firm Tru Native

Kolkata-based FMCG major Emami Ltd on Saturday said it has acquired 19 percent equity stake in direct-to-consumer (D2C) nutrition firm Tru Native F&B Pvt Ltd.

Tru Native F&B markets nutrition products under the brand TruNativ, targeted at health and fitness enthusiasts. Emami did not reveal the financial details of the deal.

Commenting on the acquisition, Emami Ltd Director Harsha V Agarwal said, "With health and wellness being the buzzword for consumers today, we see tremendous potential in the nutrition segment. 'TruNativ' product offerings are very unique as they are based on real consumer habits and issues."

Tru Native Founder Pranav Malhotra said, "TruNativ is poised to take benefit of this evolving opportunity through its innovative products delivered in convenient forms. It is exciting to have Emami come on board as a partner, who not only has very deep industry experience, but also believes in our vision to make TruNativ a household brand."

(With inputs from PTI)