US-based 3D design software company Autodesk will acquire a minority stake in Aurigo Software. The company, which also has a presence in Austin, Texas in the USA, offers cloud-based software to plan, build and maintain capital assets and infrastructure projects.
Balaji Sreenivasan, the founder of Aurigo, has emphasised that the partnership goes beyond funding and will help for strategic reasons as well. Besides this, partnership with Autodesk will help the Bengaluru-based company expand its reach. The company believes that the tie-up will help it go beyond the US and Canada to other continents.
Moreover, both Aurigo and Autodesk believe that governments around the world will turn their focus to infrastructure development after the Covid-19 pandemic has exited the scene, leading to a big demand for their software.
Andrew Anagnost, CEO of Autodesk, said in a release, “When the industry gets back to building again, real estate developers and capital owners will have in their toolboxes the most sophisticated, integrated platform to meet their design, procurement, construction, and operating needs.”
Meanwhile, Sreenivasan said that the Aurigo and Autodesk together would be able to provide a single end-to-end technology platform for design, planning, procurement, construction and operations to the owners of infrastructure projects.
He also clarified that design is one of the core strengths of Autodesk, whereas Aurigo’s expertise lies in planning, procurement, construction and operations of infrastructure. Aurigo claims that its software is being used in over $300 Bn of projects under management.
Its customer base includes state agencies from the US and Canada that build highways and water facilities. This also includes transportation departments of Ontario, Massachusetts, Nevada, Oregon, Iowa and Utah and the Tampa Bay Water, along with numerous other city authorities.
Besides this, the company also claims to be a cost-effective one-stop solution for varied services — capital planning, calling for bids from contractors, monitoring the execution and making payments.
Sreenivasan added that its customers end up saving an average of 5%, which is numerically considering these projects are with multi-million dollars at least, by using Aurigo software.
The company was founded in 2003 and has over 350 employees, out of which 260 are working out of Bengaluru. Although it did not share the details about its revenue for the financial year 2020, it managed to increase its revenue by 80% in FY2019.