Pune’s SoftTech Raises Funding From Jaipur Based Rajasthan Venture Capital Fund

Pune based software company SoftTech, has raised funding from Jaipur based Rajasthan Venture Capital Fund (RVCF).

The investment by RVCF was part of its SME Tech Fund, launched in 2008-09 to invest in high growth sectors. However, neither of the party has divulged the exact amount. Still, SoftTech plans to use the funds to increase overseas sales, boost marketing efforts and also invest in new product development.

It is interesting to note that National Venture Fund for Software and IT Industry (NFSIT), which invested in SoftTech in 2004, exited the firm in 2008 through a buy-back process. As part of this funding, Girish Gupta, CEO of RVCF, who will join the company’s board said,

“The company has tremendous experience in civil construction and infrastructure ERP software products and the infusion will help it spread its wings both in new territories and product offerings. SoftTech’s product AutoDCR has received excellent response from urban local bodies”

What does SoftTech Offer? SoftTech develops products for the Architecture, Engineering and Construction industry. Commonly referred to as the AEC line, SoftTech’s flagship product, AutoDCR, allows customers to reduce costs, increase efficiency, effective control and improve resource utilization in-terms of people, infrastructure and customer service, claims the company.

Additionally, the company also develops Project Management and Enterprise Resource Planning (ERP) software especially for the Construction industry. It also has PWIMS, a web based Commercial Off-The-Shelf (COTS) application for managing the core functional processes of works planning, procurement and maintenance in public works organizations. Owing to the rising demand of computerized planning and execution of construction activities, the funds from RVCF couldn’t have come at a better time, said Vijay Gupta, CEO, SoftTech Engineers.

ERP and other software platforms are indeed increasingly being used in construction projects as it helps companies monitor resources and allocate them judiciously. Let’s see how well Pune’s SoftTech scales–up post fund infusion from Jaipur’s RVCF.

Source | techcircle

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