Two male victims, aged 39 and 41, were in Craigour Drive around 9.20pm on Wednesday when they were assaulted and robbed.
The 39-year-old suffered injuries to his face and hand while the older man sustained a hand injury in the attack during which police said racist comments were made.
Two male suspects were seen running in the direction of Craigour Terrace.
Both are white, around 5ft 8in and aged between 25 and 30 with medium builds.
The first man had short brown hair and a brown beard and was wearing a white t-shit and grey trousers.
The second was also wearing a white t-shirt.
Detective Chief Inspector Paul Grainger said: “This was a racially motivated assault and robbery that left two men with injuries.
“Our inquiries are ongoing and we would appeal to anyone who may have witnessed the incident or seen the suspects in the area to contact police immediately.
“Anyone who has information should contact Edinburgh CID via 101 quoting incident number 3965 of Wednesday 15th August or call the charity Crimestopper anonymously on 0800 555 111.”