Info Edge, the Indian job board, has entered into an agreement to invest, through its wholly-owned subsidiary, approximately INR 15 million (USD 211,750) in LegitQuest, a legal search engine based in India.
The aggregate shareholding of the company, post this investment, in LegitQuest would be 16.67% on a fully converted diluted basis.
LegitQuest describes itself as a SaaS (software as a service) product at the intersection of technology legal utilising machine learning, modern search algorithm data analytic for the legal professionals. “It is a legal tech venture run by versatile team of tech-savvy attorneys, engineers and designers who aim to make the practice of law simpler for its end users,” the company states.
Info Edge's investment would help the Company to diversify its presence into new line of business.
SOURCE Info Edge