Seedfund invests in Nevales Networks

by CXOtoday Staff    Apr 07, 2011

investmentIndian startup company, Nevales Networks that delivers security on-demand services to small and medium enterprises (SMEs), recently announced that they have received an investment of undisclosed amount from Seedfund, an early-stage venture capital fund, for product development and to expand operations in India.

“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,” commented Ravishankar, CEO, Nevales Networks.

The company informed that it 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 24×7 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.

“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,” remarked Pravin Gandhi, founding partner, Seedfund.

Seedfund mostly targets technology driven companies and encourages young entrepreneurs.