Noida based classifieds giant Info Edge announced on Monday (July 10) that its wholly owned subsidiary, Redstart Labs, has made a strategic investment of INR 98.94 Lakh in Bengaluru based deeptech startup BrainsightAI. The investment is part of Info Edge's broader vision to focus on value creation in the medium to long run.
Redstart Labs which already owns a 4% stake in BrainsightAI on a complete converted and diluted basis, executed the investment through a subscription to the startup's convertible notes. While Info Edge did not disclose the aggregate shareholding it now holds in the startup, the investment reflects the firm's confidence in the potential of BrainsightAI's Tech.
BrainsightAI specializes in developing an application suite that enables clinicians to create bio realistic virtual twins of a person's brain using functional MRI scans. This innovative technology has the potential to revolutionize the field of healthcare by providing clinicians with detailed and accurate representations of an individual's brain that can aid in diagnostics and personalized treatment plans.
The investment by Redstart Labs further strengthens the partnership between Info Edge and BrainsightAI, demonstrating the former's commitment to supporting cutting edge startups in the deeptech sector. Through providing financial backing and expertise, Info Edge aims to facilitate the growth and development of BrainsightAI's groundbreaking technological advancements.
Convertible notes subscribed by Redstart Labs will be converted into equity at a future date, allowing Info Edge to become a significant shareholder in BrainsightAI. This strategic investment not only signifies Info Edge's position in the deeptech space but also positions it as a competent in digital healthcare sector.
Info Edge continues to expand its portfolio of investments after finding out startups with high growth potential. Through investing in disruptive technologies, Info Edge aims to stay at the forefront of evolving business landscape and contribute to the growth of Indian startup culture.
With the financial support and industry expertise provided by Info Edge, BrainsightAI is poised to accelerate their research and development efforts to expand its market reach and further enhance its suite of healthcare solutions. The partnership between these two companies represents a promising collaboration that could shape our future of healthcare in India and beyond.