Prominent industrialist Palem Srikanth Reddy, chairman and managing director of Palred Technologies, died of Covid-19 infection at Yashoda Hospitals in Hyderabad on Wednesday.
Srikanth Reddy, 57, was the son of former state high court chief justice P Chenna Kesava Reddy. He was the founder-president of Modern Rayalaseema Foundation and had been involved in various developmental works in the region.
He shot into news by joining the electoral battle on behalf of Telugu Desam Party in 2009 when he contested against then Congress candidate and present YSR Congress party president Y S Jagan Mohan Reddy from Kadapa. He lost the elections with a huge margin.
Subsequently, he quit politics and took to full-time business and philanthropic activities.
An Industrial Engineering Graduate from Regional Engineering College (Now, National Institute of Technology), Trichy, and a Post-Graduate in Industrial Engineering from Stanford University, USA, Srikanth Reddy had founded Four Soft, which was specialised in developing and providing solutions exclusively to the logistics and supply chain sectors.
He later sold its core IT and BPO business to a UK-based firm in 2013. Later, he founded Palred Technologies attempted to crack the new economy business and also LatestOne, an e-commerce venture that sells computer peripherals and accessories for digital devices.