RIB expands its stake in Winjit, the leading IoT, AI & ML, Blockchain and Fintech software provider
Singapore & Nashik, India, 17 November 2020. RIB Software SE, the world’s leading provider of iTWO 5D BIM Big Data technology for the construction industry, today announced the increase of its stake from 15% to 51% in Winjit, a leading Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML), Blockchain and Fintech solutions provider, with a presence in all major locations in the world.
Following the first acquisition of 15% in Winjit in August 2019 and reviewing the opportunity presented by the rapid development of IoT, AI, ML and Blockchain technology, RIB has increased its investment to 51% in Winjit. RIB has also the option to acquire additional 24.5% in 2021 and the remaining 24.5% in 2022 through call option to become the 100% shareholder of Winjit.
Winjit has successfully built solutions for varied industries with an AI-first approach incorporating the best emerging technology. More than ten years it has displayed its expertise in congregating IoT, Computer Vision, Machine Learning and Natural Language Processing into its solutions. Winjit’s technology platforms – PredictSense, IoTSense, VisionSense and KonnectSense – have facilitated businesses to drive their products and services to greater heights of innovation. The increased investment in Winjit will strengthen RIB’s R&D capability in IoT, AI, Blockchain and Fintech for the AEC industry and accelerate the integration of the best of today’s emerging technologies into the MTWO Cloud. This will help to create more connected, smarter and sustainable construction.
Tom Wolf, CEO and Chairman of RIB Software SE: “On the basis of the substantial business growth of Winjit and the advancement of their technologies over the past year, we have decided to expand our investment in Winjit. I am happy to see the great performance of Winjit under the leadership of visionary entrepreneurs, Abhijit Junagade and Ashwin Kandoi. Furthermore, I believe the future integration of IoT, AI and Blockchain technology into MTWO Cloud will put us in a unique position in the market to provide a complete and smart construction cloud solution to companies in the construction and real estate industry.”
Abhijit Junagade, CEO of Winjit: “Winjit is proud to be an integrated member of the RIB Group. Over the last year of partnership with Tom Wolf and the RIB team worldwide we have been able to strengthen our businesses in all key geographies. Our great new push on emerging technologies relevant for tomorrow’s world is going to further help this partnership grow. With more R&D firepower and world-class talent Winjit is committed to take MTWO Cloud an industry benchmark soon. Winjit is committed to its customers and employees worldwide and this integration shall allow us to serve everyone even better.
Founded in 2004, by two technology enthusiasts Abhijit Junagade and Ashwin Kandoi in the picturesque town of Nashik, Winjit, gained its recognition as an engineering technology company and marked its presence in several other countries such as South Africa, US, UK, and Singapore. Winjit is a top-notch smart engineering solutions provider. From conceptualization and optimization to cultivating real-time results – Winjit caters all. Pacing up with current trends in technology, the core prowess of the company lies in Artificial Intelligence & Machine Learning, Blockchain & Fintech, Internet of Things and Product Engineering.
About RIB Group
RIB Software SE is an innovator in the building and construction industry. The company develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. iTWO 4.0, RIB’s flagship cloud-based platform, provides the world’s first enterprise cloud technology based on 5D BIM with AI integration for construction companies, industrial companies, developers and project owners, etc. With over 50 years of experiences in the 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. RIB is headquartered in Stuttgart, Germany and Hong Kong, China, and listed on the prime standard Frankfurt Stock Exchange since 2011. With over 2,700 talents in more than 25 countries worldwide, RIB is targeting to transform the construction industry into the most advanced and digitalized industry in the 21st century.