Info Edge India’s subsidiary Redstart Labs invested Rs 98.94 L in Brainsight Technology
Redstart Labs, a wholly owned subsidiary of Info Edge India, invested Rs 98.94 lakhs in convertible notes in Brainsight Technology. On the basis of its valuation in the subsequent round, these notes will be converted into shares.
Redstart Labs has now made a second investment in Brainsight Technology. On a fully converted and diluted basis, the company already controls 4% of the market.
The strategic investment includes making external financial investments with a medium- to long-term value creation focus, which includes follow-on funding.
Brainsight is a healthtech company that was founded in 2019 and offers neurosurgeons, psychiatrists, and neurologists evidence-based treatment hooks. Additionally, it offers confidential and technological aids for patients and associated business operations.
The four-year-old business was in the pre-revenue stage as its operating revenue increased by 25.3% to Rs 27.5 lakhs during FY23, though the company hasn’t yet released FY23’s numbers. In the most recent fiscal year, it suffered losses of Rs 3.28 crore.
