A 37-year old man was assaulted at about 20:30 on Thursday in the Carrickknowe area  in the city.
He was first involved in an altercation with two men before another three men got out of a parked car and joined in the attack.
Police are now appealing for witnesses to the incident, which took place on Featherhall Avenue.
The victim managed to run off and was taken to Edinburgh Royal Infirmary where he was treated for serious but non-life threatening injury.
The suspects are all described as white males in their 20s.
Det Insp John Kavanagh said: "This incident happened at a busy time of night and it's very possible someone would've seen this attack.
"The vehicle that the men got out of may have been a silver BMW, but anyone who has further information is urged to contact us."
An attack by five men in Edinburgh is being treated as attempted murder.