Nevales gets investment from Seedfund

MUMBAI, INDIA: Nevales Networks, a provider of Security on-Demand services to Small and Medium Enterprises (SMEs), announced on Monday that it has received an investment of undisclosed amount from Seedfund, a venture capital fund, for product development and to expand operations in India.

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.”

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.”

Indian SMEs is one of the most aggressive sectors which adopts 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, the release added.