Quess Corp increases stake in Stellarslog Technovation to 49% by investing Rs4cr

This Investment will strengthen Quess’ presence in the digital gig economy.

November 23, 2021 10:40 IST | India Infoline News Service
Quess Corp
Quess Corp Limited has increased its equity stake in Stellarslog Technovation Private Limited (owner of the digital gig platform – Taskmo) from 36.58% to 49% by investing ~Rs4cr. Post this transaction, Taskmo continues to remain an associate of Quess Corp.

“This Investment will strengthen Quess’ presence in the digital gig economy and enable it to serve the demand for flexible gig workers from existing and new clients,” the company said in a filing on Monday.

Taskmo is a leading platform that enables enterprises to outsource tasks to a distributed network of gig workers in India. It uses a proprietary algorithm for screening, training, deploying, and managing gig workers. It had cumulative revenues of Rs4.29cr from FY19 to FY21.

At around 10.43 am, Quess Corp Ltd was trading at Rs902 per piece down by Rs12.3 or 1.35% from its previous closing of Rs914.30 per piece on the BSE.

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