Transerve Technologies signs MOU with SoftTech Engineers Limited to provide a spatially integrated suite of products for Infra & Urban Development sector; The MOU to serve Rs. 400o CR Infra & Urban Development Sector
Civic-Tech firm Transerve Technologies and Pune-based AEC Software & IT solutions provider SoftTech Engineers Limited signed a Memorandum of Understanding (MoU). The MOU has been signed with an objective to enable product integration for SoftTech’s flagship software products which will be beneficial for both government and non-government organizations in the Infrastructure & Urban Development sector.
The geospatial market in India is projected to reach Rs 11,306 Cr in 2021. At present the major growth drivers for geospatial market in India is the thrust provided by the central and state governments for developing a robust physical infrastructure, effective governance delivery including e-governance and digital economy initiatives, integrated programs on urban and rural development initiatives etc. (As per the Indian Geospatial Economy Report).
“Infrastructure” and “Urban Development”application areas together represent a 36% pie of the market approx Rs.4000 Cr. SoftTech products powered by Transerve will have a significant edge over competition towards addressing this market.Both organizations represent the Make In India movement and use a completely indigenous development philosophy.
Under this agreement, Transerve will provide and integrate its geospatial platform Transerve Online Stack (TOS) with SoftTech’s flagship products AutoDCR, PWIMS, BIMDCR and OPTICON to leverage location data across web and mobile environments to provide value added services to SoftTech existing and new clientele globally.
Commenting on the mutual agreement, Mr. Ashish Raj, Chief Operating Officer, Transerve Technologies said, “We at Transerve see great potential in development in Infrastructure sector by strategically using spatial technology as a key differentiator.We are delighted to join hands with market leaders such as SoftTech Engineers Ltd. to take this forward.”
Mr. Vijay Gupta, Founder & CEO, SoftTech Engineers Ltd., said, “We are continuously striving towards developing the next generation functionality in our product portfolio. Accordingly we are delighted to partner with Transerve Technologies to integrate their innovative spatial stack in our flagship products.”