- Nashik-based Winjit is India’s leading provider of innovative software engineering solutions.
- This investment in Winjit will strengthen RIB Software’s capabilities in Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML) and Blockchain R&D
- Winjit’s emerging tech IPR applications will be integrated into RIB’s product portfolio and MTWO platform technology.
German company RIB Software SE, a leading provider of iTWO 4.0 Cloud Enterprise Platform Technology for the construction and real estate industries, on Friday announced the successful closing of an investment into leading Indian-based IoT, AI, ML and Blockchain software provider Winjit.
The investment is based on an EBITDA multiple of 7x on expected fiscal year 2019 EBITDA. RIB acquires a 15 percent stake in Winjit and has the option to acquire a further controlling interest in Winjit through call options exercisable over the next four years. Winjit’s organic growth is expected to reach 40 percent per annum.
The integration will accelerate the digitalization and automation of the architecture engineering and construction (AEC) industry by bringing Winjit’s emerging tech IPR applications, that span across IoT, AL & ML and blockchain, into RIB’s product portfolio and MTWO platform technology.
Particularly the planned integration of Winjit’s software products into iTWO Facility Management and into iTWO Supply Chain Management will contribute to this target.
“IoT, AI, Machine Learning and Blockchain are the direction of future technologies for smart city and smart living. The investment in Winjit demonstrates RIB Group’s strong commitment to further strengthen our solution portfolio to advance the industry,” said Tom Wolf, CEO of RIB Group.
The brainchild of two young Indian entrepreneurs
Founded in 2004 by tech entrepreneurs Abhijit Junagade and Ashwin Kandoi, Nashik-based Winjit is India’s leading provider of innovative software engineering solutions. With over 300 IT experts in New York, Johannesburg, Bangalore, Nashik and Pune, Winjit supports global clients on digital transformation in more than 35 countries, with a strong focus on the US market.
With their products IoTSense, PredictSense and VisionSense, Winjit has developed state-of-the-art software applications, which will be integrated into the RIB MTWO vertical cloud platform.
Winjit’s set of solutions will also provide further momentum to RIB’s push for the world’s first artificial intelligence engineer, McTWO. Winjit’s and RIB’s technology stack will work as complements, using the MTWO infrastructure backbone.
Abhijit Junagade, CEO of Winjit, commented, “We are looking forward to work closely with RIB teams worldwide in the AEC industry. RIB’s commitment to Winjit proves the scalability of its business model. This partnership further strengthens Winjit to serve its customers and employees much better worldwide.”
Winjit has been recognised as one of the ten industrial IoT and AI solutions providers in India.