An average student, Mr. Kovelamudi completed his engineering degree in Computer Science from the reputed VNR Vignana Jyothi Institute of Engineering and Technology in Hyderabad.
BITTEN BY THE ENTREPRENEURSHIP BUG
In the third year of his graduation, he started working part-time as an IT executive in his family’s then newly constructed hospital. While continuing to work in the hospital, he started a branding firm called SociaLight. His maiden venture has now evolved into an endto-end digital agency and Mr. Kovelamudi continues to oversee the strategy for it, while other professionals manage the operations. He then spearheaded the process of NABH – accreditation for the hospital and led the way for Prasad Hospitals to become the locality’s first NABH-accredited hospital, at par with the best in the country.
As he got more involved in the work at the hospital, he later ventured into revenue cycle management and started a company called Omnimed Solutions. This company provided payment services to medical practitioners based in the United States. In a span of 3 years, the company grew exponentially and employed over 150 professionals across India and USA.
Mr. Kovelamudi exited the company with 100X returns and then started his next venture — a fantasy gaming company called FreeHit that has recently raised INR 4 Crores through angel investment. Mr. Kovelamudi is now aiming to achieve a consolidated annual revenue of Rs. 100 Crores in FY21-22.
AIMING FOR GREATER HEIGHTS
Under Mr. Kovelamudi’s astute leadership, all his ventures have scaled milestones that one can only dream of. A name to reckon with in the list of most successful young entrepreneurs in India, he has set up and streamlined multiple businesses in diverse segments, and turned them into successful companies. Becoming a serial entrepreneur with all ventures tasting success is not a story that one hears ever so often. He has worked untiringly to add so many feathers to his cap.
Be it his maiden venture SocialLight or his latest enterprise FreeHit, all have had one thing in common — his hard work and dedication. In the future, Mr. Kovelamudi is looking for all round growth for all his ventures.
WORKING FOR THE BETTERMENT OF SOCIETY
Mr. Kovelamudi is firmly believes in and encourages giving back to the society. He is on the founding panel of HES Society, a philanthropic organization run by his family for providing needy individuals support and better access to healthcare, education and sports.
Besides distributing essentials to thousands of slum-dwellers during the lockdown, the society recently awarded a scholarship named after his late grandfather, Dr. KVR Prasad. This scholarship funds the four-year long MBBS degree for students from underprivileged communities.
AWARDS AND ACCOLADES
A serial entrepreneur, Mr. Kovelamudi was part of the Forbes Great People Managers (GPM) Top 100 list for two years — 201819 and 2019-20. He is also the youngest person to be featured in the aforementioned list. His alma mater VNR Vignana Jyothi Institute of Engineering and Technology also conferred the Distinguished Alumni Award upon him. Mr. Kovelamudi’s achievements and milestones are an inspiration to many young minds.
