Redstart Labs, a subsidiary of online classifieds giant Info Edge, is set to purchase an additional stake in Bengaluru-based healthcare startup Brainsight Technology for a cash investment of INR 3 Cr (approximately $353K). This move will increase its shareholding from 4.68% to 5.27%.
In a regulatory filing, the Sanjeev Bikhchandani-led company announced that Redstart has secured board approval to acquire 385 compulsorily convertible preference shares of Brainsight. Established in 2019 by Laina Emmanuel and Rimjhim Agrawal, Brainsight specializes in AI-driven solutions for functional brain mapping, with its current offerings including two products, Voxelbox and Snowdrop.
Voxelbox provides clinicians with an fMRI processing engine and machine learning models for report generation, while Snowdrop is a patient care application.
According to the filing, Brainsight reported a loss of INR 4.76 Cr during the 2023-24 financial year (FY24), currently valued at INR 3.74 Cr.
Info Edge has been actively investing in recent times. Last month, the internet company announced plans to invest INR 4 Cr in its portfolio company, LegitQuest, through its wholly-owned subsidiary, Startup Investments (Holdings) Ltd. Earlier, in October, the company disclosed that its executive directors’ committee approved an investment of INR 30 Cr in Redstart Labs. Info Edge’s portfolio includes prominent listed companies like foodtech leader Zomato, insurtech firm PB Fintech, and unlisted edtech company Adda247.
In its financial results for Q2 FY25, Info Edge reported a significant 64.6% drop in net profit, which fell to INR 84.73 Cr from INR 239.74 Cr in the same quarter of the previous year. Despite the decline in profit, the company saw a nearly 12% rise in operating revenue, reaching INR 700.82 Cr, compared to INR 625.84 Cr in Q2 FY24.
While Info Edge faces a dip in profitability, it continues to pursue strategic investments, signaling confidence in its long-term growth prospects despite short-term challenges.
