Mumbai-based Suvidhaa Infoserve, the pioneer of the Services Commerce (‘S-Commerce’) revolution in India has won the coveted ‘2009 Red Herring 100 Asia Award’ at Red Herring’s Asia 2009 Conference & Awards function held at, Shanghai, China. The award recognizes Suvidhaa amongst the 100 most innovative private technology companies in the Asia Pacific region.
Accepting the award, Paresh Rajde, Founder Managing Director & CEO, mentioned: “We are delighted and encouraged by the Red Herring 100 Asia Award ! This award will certainly inspire us to continue striving for operational and service excellence, innovation and improvement for the customers, retail partners and service providers. The most satisfying aspect of this recognition is that the entire technology solution for Suvidhaa emerged out of our own needs and crafted ingeniously by our own team as per the complexity and future scalability envisioned by us.
Rajde further added, “This award further validates the Suvidhaa’s vision to build a robust technology platform across both computers and mobile phones, that will offer India’s consumers, the ability to buy, pay and utilize almost any service from within their own neighborhood. Suvidhaa has now built up a significant distribution network of more than 15,000 franchisee outlets in a short span of less than 2 years and is present in more than 400 cities covering over 20 states across India.”
Red Herring is world’s leading media company whose mission is to covering innovation, technology, financing and entrepreneurial activity across the globe. The Red Herring editorial team used an intensely competitive process to select the most innovative companies from a pool of more than 1000 companies to honor 100 cutting edge private technology companies from China, India, Japan, Singapore, Korea, Australia and Vietnam, bringing together an elite roster of entrepreneurial and global venture investment firms. The nominees for the awards are evaluated on both quantitative and qualitative criteria such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their ecosystem Suvidhaa Infoserve Pvt Ltd (SIPL), the pioneer of the Services Commerce (“S-Commerce”) revolution in India is founded by Paresh Rajde and funded by two leading global venture capital firms, Norwest Venture Partners India (NVP India) and Reliance Technology Ventures.
About Suvidhaa Infoserve Ltd (SIPL):
Suvidhaa Infoserve Pvt. Ltd. a company, floated to aggregate, commoditize and distribute the services in most convenient form to the consumers. Suvidhaa provides multiple services under one roof in most convenient form to the consumers.
The motto of the company is to give convenience and value to all its customers who are looking for travel service like Railway ticket, Air, Bus, hotel, utility bill payments, telecom products, entertainment, financial services like Insurance, Loans, investments, e-Governance and Lifestyle related services. Company is committed to develop new strategies and influence business transformations with smart thinking expertise. Suvidhaa’s business expertise aims to address the prevailing gaps in various service sectors. The company uses the technology platform to deliver the services giving an advantage to common man by way of high performance, saving of time & money and higher customer satisfaction. Suvidhaa is headquartered in Mumbai, with branch offices in Delhi, Bangalore, Chennai, and Kolkata.
Suvidhaa currently powers more than 15000 local neighbourhood convenience stores spread across 20 states in over 400 cities/ towns. The Suvidhaa Point is consisting of Kirana Store /Mobile Store / Medicals Store / STD Booth / Cyber Cafe / Travel agent and other categories of neighborhood stores. The main premise of this platform is to bring convenience to customers near his house.
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For more information, please visit: www.mysuvidhaa.com
About Norwest Venture Partners
Norwest Venture Partners (NVP) is a global, multi-stage investment firm that manages more than $2.5 billion USD in capital out of Palo Alto, California, Mumbai and Bangalore, India and Herzelia, Israel. NVP makes early to late stage venture and growth equity investments across a wide range of sectors including: technology, financial services, infrastructure, consumer, agriculture, manufacturing, telecommunications, retail and healthcare. NVP has actively partnered with entrepreneurs to build great businesses for more than 48 years and has funded over 450 companies since inception.
Notable investments include Actel Corporation, Airespace (acquired by Cisco Systems), Cerent (acquired by Cisco Systems), Corio (acquired by IBM), Cray Research, Documentum, Extreme Networks , Forte Software (acquired by Sun Microsystems), National Stock Exchange of India (NSE), OnMobile (NSE: OnMobile), Open-Silicon (acquired by Unicorn Investment Bank), PeopleSoft, Qumranet (acquired by Red Hat), Rackspace (NYSE:RAX), Siara Systems (acquired by Redback Networks), Shriram City Union Finance, SideStep (acquired by Kayak), Spinnaker Networks (acquired by Network Appliance), Tivoli Systems (acquired by IBM), Transaction Systems Architects (Nasdaq: ACIW), Verio (acquired by NTT), Winphoria Networks (acquired by Motorola) and Yipes (acquired by Reliance/Flag Telecom).
For more information, please visit www.nvp.com.
All brands, names, or trademarks mentioned in this document are the property of NVP.
Reliance Technology Ventures Limited (RTVL)
Reliance Technology Ventures Ltd., is the corporate venture capital arm of the Reliance ADA Group and is ranked 30th among Global VCs and #1 among Indian firms by Red Herring. RTVL was recently awarded the ‘Excellence Award’ by 'Institute of Economic Studies' (IES) to recognize the outstanding contribution to the industrial development of India. RTVL has advised and / or invested in deals to the tune of over $4 billion including in companies such as Yatra.com, India’s largest on-line travel portal, Pelago Inc, Suvidhaa Infoserve, Sequans Communications, Stoke Inc, E-Band Communications Corporation, Seedfund, Scalable Display Technologies and Dhama Apparel Innovations are some of its portfolio investments. RTVL had also advised Reliance Globalcom in the acquisition of U.K. based eWave World and in the $300 million acquisition of US based Yipes Holding, Inc, a leading provider of managed Ethernet Services. eWaveWorld is now Reliance WiMAX World and represents the Group’s $500 million initiative to bring WiMAX to 50 countries by 2012. RTVL has also led the investment into an undisclosed technology company, which formed the basis of the largest venture capital transaction in India. RTVL invests in leading edge technologies, disruptive business models and technology enabled companies around the world. The firm partners with established institutions globally and its association with the Massachusetts Institute of Technology (MIT) has resulted in its funding of two innovative start-ups which emerged out of the prestigious institution. RTVL works with and co-invests with leading venture capital firms across the globe such as KPCB, Sequoia and Norwest Venture Partners. It has built from ground-up India’s leading online travel portal, Yatra.com, which has revenues of over Rs.1400 crore ($300 million).
For further information please visit: www.rtvl.co.in
About Red Herring
Red Herring is a global media company, which unites the world's best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com