Quess Corp signs agreement to invest Rs3.84 crore in Taskmo; Stock gains over 1%

31 Mar 2022 , 10:06 AM

Quess Corp Limited has signed the First Addendum Agreement on Wednesday with Stellarslog Technovation Private Limited (Taskmo), Naveen Ramachandra and Prashant Janadri (Founders), under which the Company has agreed to make an additional investment of Rs3.84 crore.

As per regulatory filing, 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.

The total turnover stood at Rs1.25 crore for FY 2020-21 and Rs6.24 crore for 9MFY22. It had 45,000+ registered users as on February, 2022.

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

At around 10:10 AM, Quess Corp was trading at Rs665.05 apiece up by Rs8.2 or 1.25% on the BSE.