VCCircle

Pune based Neilsoft, a company that provides engineering and technology solutions to the construction industry, has secured funding of $7 million from US private equity and venture capital fund Trident Capital. This is the second round of funding for Neilsoft, which had earlier received close to $1.5 million investment from Gujarat based venture capital fund GVFL Ltd. It has exited in the current round (three-fourth of GVFL stake is bought by Trident while the rest by promoters and management of Neilsoft).
Neilsoft was set up in 1993 by Ketan Bakshi. It provides specialist engineering and technology solutions to clients in the building systems, industrial projects, industrial machinery & equipment, automotive, marine, & software verticals. The company has currently revenues of Rs 65 crore, which it plans to take to Rs 85 crore this year. Neilsoft had recently acquired a 60 per cent stake in an industrial plant design and digital factory design company in Germany, while the other partner is Triplan AG. This company is estimated to contribute Rs 15 crore to the topline in 2007-08.
Trident is a US venture capital fund which manages about $1.6 billion in capital. Its focus is business to business companies in software, IT and information services.