Latest News | Business Briefs *Upgrad Seeks Rs 3 Cr from Rival Scaler for Trademark Violation

Mumbai, Dec 2 (PTI) Edutech firm Upgrad has filed a suit in the Delhi High Court for alleged trademark infringement against another edutech firm Scaler.

The company is seeking Rs 3 crore in damages.

Also Read | Redmi Note 10S 8GB RAM + 128GB Variant Launched in India.

The suit is for alleged violation of the intellectual property relating to Upgrad's trademark.

Upgrad has accused Scaler of using its brand name 'Upgrad' through Google ads to appear on top of search results on Google search engine and in turn gaining illicit benefit.

Also Read | Weather Forecast: Punjab, Harayna, Delhi & West UP Likely to Receive Rainfall on December 5.

***** *Healthcare startup Nucros raises USD 9 lakh

Healthcare startup Nucros Science & Taste has raised a sum of USD 9 lakh (about Rs 6.7 crore) from a consortium of investors including Aavejak Advisers, ID8 Ventures, Innoscale Global Foundation and the Delhi Angels Network.

The startup, launched last year by serial entrepreneur Sakshi Bakshi, will use the fund to advance its backend operations, strengthen team structure and marketing, apart from entering Mumbai and Bengaluru region.

Nucros is a smart-health solutions provider which has a team of doctors, nutritionists, and chefs. They help realize one's health goals with no compromise on taste or variety.

***** *Quantela takes over TerraCIS India operations

Outcomes business model player Quantela Inc has entered into an agreement to take over management control of the Indian business of TerraCIS Technologies Ltd (TTL), which is a pioneer in land governance and smart city solutions.

Supported by investment partners, Gateway Partners, and Avenue Capital Group, Quantela will assume immediate operational control of TerraCIS' business in India, and full ownership through a restructuring process in due course, the companu said.

"This agreement for TTL in India creates an exciting addition to our existing offering suite as we can combine our smart city expertise to bid for significantly larger projects with greater community impact in India and beyond.

"At the same time, we can leverage Quantela's global presence to extend our digital land registration and records management offering worldwide,” said Sridhar Gadhi, Quantela Founder and Executive Chairman.

Quantela is a technology firm that offers outcomes business models through the digitization of urban infrastructure, while TerraCIS is a global technology leader providing IT solutions for efficient citizen service delivery and smart governance, through smart infrastructure.

****

*Fintech PayGlocal raises USD 4.9 million

Payments solutions fintech PayGlocal has raised USD 4.9 million (about Rs 36.8 crore) in funding led by Sequoia Capital along with other investors.

The series A funding round also saw participation from BeeNext, Jitendra Gupta and Amrish Rau.

The company will use the funds to grow merchant and partner ecosystem, scale up the product and expand the team, PayGlocal said.

The company enables seamless merchant transactions across borders.

****

*Sciative rolls out ESOP for young team members

Price optimisation solutions provider Sciative on Thursday said it has rolled out Employee Stock Ownership Plan (ESOP) to empower its young team members.

“The vision with which we founded Sciative could not have become a reality without the support of our incredible team. We have rolled out ESOP (Employee Stock Ownership Plan) not only to inculcate a feeling of ownership among these young team mates but also as a gesture of gratitude towards the remarkable work they have done to take Sciative to greater heights,” Sciative Founder and Managing Director Anshu Jalora said. PTI BEN KPM SM

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)