ACCESS Newswire
24 Jan 2023, 20:35 GMT+10
Additional $1.5 million invested for co-development of cloud-based healthcare technology
SAN JOSE, CA / ACCESSWIRE / January 24, 2023 / Nuvento, a digital tech services company that builds transformative digital experiences in the cloud, announced an investment of $3.3 million from Tests Assured Inc and an additional $1.5 million to co-develop a cloud-based healthcare technology.
Discussing the transaction, Suraj Arukil, Founder and CEO of Nuvento, Inc. shared, 'We've seen substantial revenue growth over the past two years, driven primarily by our cloud capabilities, including building transformative digital experiences for our clients. Our Digital ABCD (A- Artificial Intelligence & Automation, B - Business Process Transformation, C- Cloud & Cyber Security, and D- Data) delivers immense value and this investment from Tests Assured will help us scale our US and global operations as we continue to build Nuvento into a leading Cloud Service Provider.'
Demand for digital capabilities is rapidly increasing as companies look to find ways to automate and optimize their operations.
'Nuvento has built up a very strong cloud and AI technologies portfolio, backed by a world-class team of engineers and developers,' said Imad Abdelgawad, CEO and Founder at Tests Assured.' In the past 12 months, Tests Assured has invested in companies specializing in Blockchain, AR/VR, and now with Nuvento, we welcome our first investment in the Cloud space.'
According to Gartner, over half of enterprise IT spending in key market segments will shift to the cloud by 2025.
Many domains that have been non-cloud in the past are now shifting to public cloud services as enterprises adopt distributed cloud solutions, expanding the addressable market. Location-specific requirements such as network bandwidth, data sovereignty and latency concerns are driving enterprise evaluation and accelerating the move to cloud-based technology.
Manoj J Manayathumariyil, Co-Founder and Managing Director of Nuvento, said, 'In the last 24 months, Nuvento has been multiplying and diversifying its operations across India & Canada. With this investment, we will continue to expand our global workforce to support our growth. One of the major areas of focus will be our EduHealth™ product line,'
The EduHealth™ product line currently serves 70,000 users, with the user base projected to grow to 250,000 users by 2025.
Touting the benefits of the investment, Sujesh Pulikkal, COO, Chief Advisory of Tests Assured. stated, 'Nuvento's unique capabilities in Data, AI, ML, and Automation bring additional strength to the Tests Assured portfolio of offerings in the cloud-based, digital transformation markets.'
For more information about Nuvento and EduHealth, visit www.nuvento.com
###
About Nuvento:
Nuvento Inc is a Digital Tech Services company that builds transformative digital experiences in the cloud. Started in 2007, Nuvento is now in its New Venture mode, focusing extensively on Digital Tech that provides customers with a 360-Degree model that enhances business value with offerings in Digital ABCD (A- Artificial Intelligence & Automation, B - Business Process Transformation, C- Cloud & Cyber Security, and D- Data). For more information on Nuvento, visit: www.nuvento.com
About Tests Assured:
Tests Assured offers a variety of testing solutions, with a focus on AR/VR/XR including Quality Assurance, Security, Hardware, Software Compatibility and Accessibility and has helped launch emerging technologies from the world's most recognizable brands including Meta. Based in the Silicon Valley, Tests Assured has global testing solutions in the North America, European Union, Asia and India. For more information on Tests Assured, visit: www.testsassured.com
Nuvento Public Relations
Rahi Radhakrishnan
[email protected]
Tests Assured Public Relations
Gordon Bell
[email protected]
SOURCE: Nuvento Inc
Get a daily dose of Raleigh Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Raleigh Times.
More InformationWASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
(Photo credit: Lon Horwedel-Imagn Images) Cal Raleigh blasted his major league-leading 37th and 38th home runs, including a grand...
(Photo credit: Dale Zanine-Imagn Images) Matt Olson will replace Atlanta Braves teammate and fellow All-Star Ronald Acuna Jr. in...
(Photo credit: Nathan Ray Seebeck-Imagn Images) Athletics designated hitter Brent Rooker and New York Yankees second baseman Jazz...
(Photo credit: Nathan Ray Seebeck-Imagn Images) Athletics designated hitter Brent Rooker was the latest to commit to Monday's Home...
(Photo credit: Wendell Cruz-Imagn Images) Even as the New York Yankees struggled, Jazz Chisholm Jr. kept hitting. On Wednesday,...