Indian startup company, Nevales Networks that delivers comprehensive and affordable Security on-Demand services to Small and Medium Enterprises (SMEs), today announced that they have received an investment of undisclosed amount from Seedfund, India’s leading early-stage venture capital fund, for product development and to expand operations in India.
Indian SMEs, one of the fastest growing segment, is also the most aggressive in adoption of cloud based services because of its ability to cut costs, reduce the need for capital expenditure and also provide their businesses with competitive advantage putting them at par with their global counterparts.
Established in January 2010, Nevales Networks was founded by Silicon Valley-based IT entrepreneur Kaushik Thakkar, along with Sunija Rishi, a marketing professional and Ravishankar, an experienced Banker.
Nevales Networks delivers SMEs comprehensive and affordable Security on-Demand services that provide a secure and scalable environment to conduct business. Nevales provides SME owners a security services platform that is on-demand to connect securely and access the benefits of the cloud. By doing so, the SME company can protect its own assets and better leverage cloud services.
Nevales’s subscription based security offering that is free of maintenance, licensing and scalability issues, typically bundles everything into its single subscription fee - including automatic updates, maintenance and 24x7 technical support, thus enabling organizations to eliminate upfront costs, providing a predictable cost structure, and ensuring quality of service and the freedom to re-evaluate the solution decision any time making it highly suitable for SME. Nevales has customers from various verticals, including education, healthcare, travel, finance, manufacturing, auto, among others and is looking at expanding it further.
Speaking on the investment, Ravishankar, CEO, Nevales Networks said, “Nevales Networks is capitalizing on the powerful combination of a low cost, high demand offering to fast growing SME markets. The investment by Seedfund comes at the right time as Nevales is looking at expanding its solution offering and planning aggressive expansion. We are happy to get support from one of the leading early stage venture capital fund in the country. We believe they will add value to the long-term growth of the company.”
Seedfund is India’s leading early-stage venture capital fund, with operations in Mumbai, Bangalore and New Delhi. Seedfund was founded in 2006 by Pravin Gandhi, Mahesh Murthy and Bharati Jacob, and the team has grown to include Anand Lunia, Paula Mariwala, Sanjay Anandaram and Shailesh Vickram Singh.
Pravin Gandhi, Founding Partner at Seedfund said “We are very pleased with our investment in Nevales Networks and we believe it is one of the most promising companies in the cloud based services space for SMEs. Our investment is aimed at accelerating the product development pace and operations expansion in India. Seedfund always invests in the most promising companies with big potential, and Nevales perfectly matched our requirement. We believe, with its customer service focus, superior product and services, experienced team and continuous effort in innovation, Nevales will make significant growth.”
Seedfund mostly targets technology driven companies and encourages young entrepreneurs. Seedfund has been quite successful in funding companies that need help at an early stage. Some of the startups that have received funds from Seedfund are Printo, Carwale, Redbus, Agencyfaqs, Rupeetalk, Healthizen, Thinklabs, Vaatsalya, EduSports, Ixsight, Lifeblob and Uhuroo.