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VC-backed Neilsoft Acquires US-based Cadforce

27 October, 2008

Pune-based Neilsoft Ltd has acquired Cadforce, a provider of outsourced CAD drafting services for architects and homebuilders. Neilsoft, a provider of engineering and technology solutions to the construction industry, had also raised raised $7 million from technology focused venture firm Trident Capital last year. Cadforce raised under $5 million in two rounds of venture capital funding.     

Neilsoft is a specialist engineering services and solutions provider catering to clients in the building systems, industrial projects, transportation, industrial machinery, and software segments globally.It has a team of more than 750 and has clients across US, Europe, Asia-Pacific, Middle-East, and India.

Neilsoft was set up in 1993 by Ketan Bakshi. Last year, Neilsoft acquired a 60% stake in an industrial plant design and digital factory design company in Germany from Triplan AG.

Another similar acquisition was when Sequoia Capital backed Satellier acquired Screampoint, the inventor of and leader in 5D digital city and digital building systems, in April this year.

There has been some funding activity in this segment recently. Blackstone Real Estate Partners in April this year invested $18 million for a minority stake in Bangalore-based Synergy Property Development Services.

Geodesic Techniques, a Banglore-based innovative design and civil engineering company, has raised $11 million from Mayfield Fund and SVB India Capital Partners. Last year Sequoia invested $10 million in India and US based engineering outsourcing company Satellier.


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VC-backed Neilsoft Acquires US-based Cadforce

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