Pune based SoftTech Engineers, a software company that develops ERP solutions for the civil, construction and infrastructure sector, has raised an undisclosed amount in a growth funding round from Rajasthan Venture Capital Fund (RVCF). The investment has been made from the firm’s SME Tech Fund — RVCF Trust II, reports Venture Intelligence.
The company will use the funds raised to increase sales and marketing and expand overseas.
Founded in 1996 by former Crompton Greaves and Godrej & Boyce executive Vijay Gupta, SoftTech Engineers has earlier raised funding from SIDBI Venture Capital and government agency Technology Development Board (TDB).
The company currently has a 4500-plus client base in India and across the world. Its current roster of clients include Pune Municipal Corporation, Disha Group, Yahya Constructions, and Life Insurance Corporation.
RVCF’s SME Tech Fund – RVCF II is supported by 15 investors including Rajasthan State Industrial Development and Investment Corporation and Small Industries Development Bank of India (SIDBI). It invests across sectors and at multiple stages including early, growth and turnarounds.