With the new investment, Info Edge now holds 14.77% stake in Vcare Technologies Pvt. Ltd., which runs Diro Labs.
Diro Labs allows users to make groups of contacts, back them up on cloud, and connect contacts with social media. The startup is based out of Delhi, and also has offices in the US and the UK.
The company was founded in 2014 by Vishal Gupta, Sumeet Singh, and Nikhil Rai. Gupta has earlier worked with Delhi Call Centre Ltd, while Singh worked with Emerging India Value Advisors and EY. Rai was earlier with Prema Healthcare Pvt. Ltd.
Info Edge holds stakes in several technology firms such as food-tech firm Zomato, coupons site Mydala, online insurance policy aggregator PolicyBazaar, e-learning firm Meritnation and online photography startup Canvera Digital Technologies. It was the lead investor in Canvera's $3 million funding round in September. Their investment in Diro Labs represents another piece in their technology firm portfolio.