RIB invests into Capricot, an Indian BIM (Building Information Modeling) technology leader with over 20,000 active construction software USERS and thousands of IT clients in the building/construction vertical.
A pioneer in the digitization of the construction industry, Germany-headquartered RIB creates, develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide.
With over 1,400 talents in more than 30 locations worldwide, RIB has invested 20 percent into the company with the right to consolidate the Capricot Group into the RIB Group in the upcoming years.
After A2K in Australia, Cadline in UK, and U.S. CAD in California, RIB Group has signed an investment agreement with Capricot, and completed its MSP client network investments for the key markets, in addition to EU. Together with Levtech, Cadline, CCS, Winjit, BSD, US CAD, the group has now executed 10 investments, worth almost 150 million USD, out of the 14 planned for 2019.
The investment would happen in a phased manner, which would further improve financial strength and stability of Capricot.
Pinakpani Bhattacharjee, President M&A, RIB Group was instrumental in initiating the merger under the leadership and supervision of RIB Group CEO Tom Wolf.
India is the fastest growing market economy with 7.2 percent GDP growth in 2018. It will be the first political unit to surpass 1.5 billion population in human history by 2030. Of the 500 million labour force working in the world's fifth largest economy, millions of people are working in the super-fast growing IT sector.
There are 50 million people working in the building and infrastructure sector, which will reach a market size of over 1 trillion USD p.a. in the next years.
Capricot Technologies is a pan-India consultancy and software and hardware provider covering major industries like architecture, construction, engineering. It is spearheaded by Chakresh Jain, Chairman; S. Venkatesh, Managing Director; Sharad Hulji, Founder-Director and Ramjayesh, Founder-Director.
The four founders of Capricot have a background in architecture, mechanical engineering, electrical & electronics with a deep knowledge of the construction process. Up to 50 percent of all Indian potential clients within the 50 million headcount working in the building and infrastructure sector are reachable over Capricot.
There are four real Bauhaus masters sharing the vision of digitally transforming the Indian Building Industry (AEC). The four musketeers from Delhi, Bangalore, Mumbai and Hyderabad put their forces together and formed the largest BIM related construction software Group with 20 million USD profitable revenues in 2019 under the name of Capricot to introduce world's leading BIM technology like BIM 360 Technology from Autodesk to the Indian market. Their 300 employees including over 100 key accounts with decades of experience, and BIM training centers in Delhi, Mumbai and Bangalore, have already served 15,000 clients in the last 15 years.
Capricot will introduce iTWO 4.0 Technology and the MTWO Cloud Platform to the Indian ,arket. MTWO (iTWO 4.0 enterprise focus on cost and time integration) combined with BIM 360 will offer two complementary platforms with special designed "out of the box solutions" for the 700 million USD construction and real estate technology market.
With over 50 years of experiences in construction industry, RIB Software SE focuses on IT and engineering and becomes the pioneer in construction innovation, exploring and bringing in new thinking, new working methods and new technologies to enhance construction productivity.
Tom Wolf, CEO, RIB Group said, “I am extremely proud to announce the entrepreneurial partnership with Chakresh, Venkatesh, Ramjayesh, Sharad, the four BIM evangelists and musketeers.”
“After RIB teams up with the strongest entrepreneurs from Capricot, Levtech and Winjit, our combined R&D, sales, consulting & training capacity in the Indian AEC vertical will surpass 1000 people in 2019 and will be able to digitally transform the building industry to become one of the most advanced industries on the planet and to support building affordable and smart homes, cities and smart infrastructure for the next generations in India. It is a great pleasure to work with the strongest entrepreneurs to realize the Bauhaus meets AI dreams in India,” said Tom.
Chakresh Jain, Chairman, Capricot Technologies said, "The top priorities for Capricot will be to consolidate our AEC business leadership position in India. The combination of complementary platforms, BIM 360 from Autodesk with MTWO and the iTWO 4.0 Technology, could be the missing link to finally digital transform the Indian building industry and reach the breakthrough for the BIM Technology."
The strategic investment from RIB will result in profitable growth to all stakeholders, including the inspired employees of Capricot.
S Venkatesh, Managing Director at Capricot Technologies said, "I have always envisioned Capricot joining up with a strategic investor like RIB and I am excited about our future and "Running Together" with RIB for several years to come. In addition, our combined focus will remain on our inspired team and creating an environment for them where they are encouraged and excited to help drive this growth for Capricot and RIB."
"We are proud to join as Entrepreneurs and industrial leaders in the global RIB group of real entrepreneurs. We believe it is a group of BIM evangelists who want to support our societies to be ready for the challenges of the 21st century which we call the digital age," said Chakresh of Capricot Technologies.