RIB invest into CAPRICOT, an Indian technology leader with over 20,000 active construction software users and thousands of IT clients in the building vertical
After A2K in Australia, Cadline in UK, and U.S.CAD in California, RIB Group have signed an investment agreement with Capricot, and completed our MSP client network investments for the key markets in addition to EU. Together with Levtech, Cadline, CCS, Winjit, BSD, US CAD, we have now executed 10 investments, worth almost 150 Million USD, out the 14 planned for 2019.
India is the fastest growing market economy with 7.2% GDP growth in 2018. It will be the first political unit to surpass 1.5 Billion population in human history by 2030. Within 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.
There are 4 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.
The 4 founders are Masters in Architecture, in Mechanical Engineering, in Electrical & Electronics with deep knowledge in the construction process. Up to 50% of all Indian potential clients within the 50 Million Headcount working in the building and infrastructure sector are reachable over Capricot.
Capricot will introduce iTWO 4.0 Technology and our MTWO Cloud Platform to the Indian Market. MTWO (iTWO 4.0 enterprise focus on cost and time integration) combined with BIM 360 will offer 2 complementary platforms with special designed “out of the box solutions” for the 700 million USD construction and real estate technology market.
RIB has invested 20% into the company with the right to consolidate the Capricot Group into the RIB Group within the next years. The Investment was executed within a 7x EBIT/DA multiple.
Tom Wolf: “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.”
Chakresh Jain: “The top priorities for Capricot will be to consolidate our AEC business leadership position in India. The combination of the two 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. 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.”
S Venkatesh: “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.”