Hong Kong & Nashik, India, 02 August 2019. RIB Software SE, the world’s leading provider of iTWO 4.0 Cloud Enterprise Platform Technology for the construction and real estate industries, today announced the successful closing of an investment into leading Indian-based IoT, AI, ML and Blockchain software provider Winjit.
40% organic growth p.a. and controlling interest within four years
The investment is based on an EBITDA multiple of 7x on expected fiscal year 2019 EBITDA. RIB acquires a 15% stake in Winjit and has the option to acquire a further controlling interest in Winjit through call options exercisable over the next 4 years. Winjit’s organic growth is expected to reach 40% p.a.
Award winning company “Top 10 IoT and AI solutions provider of India”
Winjit’s cutting-edge software in the fields of artificial intelligence, machine learning and IoT has been recognized through several awards, such as The Economics Times India MSE Award and being nominated as one of the ten most promising industrial IoT solutions providers by CIO Insider in 2019, as well as one of the ten most recommended AI solution providers.
300 IT Experts with focus on the United States plus 35 countries
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.
MTWO New Software Modules IoTSense, PredictSense & VisionSense can win 100.000 MTWO Platform users in the midterm
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: IoTSense is an advanced full-scale IoT Platform, which connects modern as well legacy protocol sensors on the edge & cloud securely to provide real-time analytics, rule-based actions & machine-to-machine communication; PredictSense is an automated machine learning platform that helps organizations solve complex real-time business problems with high-power algorithms on an open API structure; and with VisionSense, Winjit is bringing image recognition solutions to various industries’ process challenges.
The integration will accelerate the digitalization and automation of the AEC industry by bringing Winjit’s emerging tech IPR applications, that span 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.
Founded in 2004 by two young Indian entrepreneurs, Abhijit Junagade and Ashwin Kandoi, Winjit has spent almost two decades in building up its core competencies in emerging technologies, such as IoT, AI & ML, blockchain and fintech solutions. These technologies are crucial components in the MTWO product portfolio and MTWO platform and will enable new digital business models in the AEC and EPC industries.
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: "We are excited at Winjit to be a part of the RIB family. Our strategy and focus on IoT, Artificial Intelligence and Machine Learning software applications aligns with RIB’s MTWO platform. 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.”
Tom Wolf, CEO of RIB Group: “IoT, AI, Machine Learning and Blockchain are the direction of future technologies for smart city and smart living. I am very happy to work with the two young and visionary entrepreneurs, Abhijit Junagade and Ashwin Kandoi, who shared the same vision with me to deliver the best infrastructure for the next generation. The investment in Winjit demonstrates RIB Group’s strong commitment to further strengthen our solution portfolio to advance the industry.”
Founded in 2004 by tech entrepreneurs Abhijit Junagade and Ashwin Kandoi, Nashik-based Winjit is India’s leading provider of innovative software engineering solutions. Winjit employs more than 300 experts in the fields of IoT, AI, ML and Blockchain and offers its products and services to clients worldwide. Supported by sales offices in South Africa (Johannesburg) and the United States (New York and San Francisco), Winjit has and continues to successfully deliver emerging tech solutions to its 100+ global clients. Through its growing line of software solutions, Winjit has created a quickly deployable set of IoT, AI and ML solutions that make emerging tech a reality for their clients.