InfoEdge subsidiary invests Rs 1 cr in healthtech startup BrainSightAI

RedStart Labs (India) has invested close to Rs 1 crore in Bengaluru-based health technology startup BrainSightAI, according to a BSE filing on Monday.

RedStart Labs is a wholly-owned subsidiary of technology company InfoEdge.

RedStart holds 4 per cent stake in BrainSightAI on a fully converted and diluted basis. However, aggregate shareholding of the company after the current investment cannot be estimated, the filing further stated.

"RedStart has agreed to invest an aggregate amount of Rs 98,94,000 by way of subscribing to convertible notes. Since the note would be converted into shares in the next round basis the valuation at that time, aggregate shareholding of the company through RedStart, post this investment cannot be estimated at the time of making the intimation," the filing said.

InfoEdge is the parent company of online classifieds such as Naukri.com, matrimony site Jeevansathi.com and 99acres.com, a property marketplace.

Incorporated in 2019, BrainSightAI provides evidence-based treatment hooks for neurosurgeons, psychiatrists and neurologists through artificial intelligence.