The Hindu Business Line : Satellier bags $10-m equity funding from Sequoia Cap

Satellier Inc., a player in the value-added design support and Building Information Modeling (BIM) service solutions, on Wednesday announced that it would expand its services in the Indian market post second round of venture capital funding of $10 million from Sequoia Capital.

Satellier would enter the Indian market with its high-end BIM production services to Indian developers and hoteliers for their projects in the country. The investment accelerates the company’s migration to full technology-enabled BIM services and will facilitate robust global expansion.

“Sequoia brings a wealth of skills, resources, and experience to the Satellier board, and will assist us in establishing best-practice global relationships, managing our rapid growth, and helping to accelerate our transition to the industry’s next-generation technology — Building Information Modeling,” said Mr Michael Jansen, Satellier’s Chairman and CEO.

Satellier intends to get into strategic tie-up with large real estate companies to assist them in some of the large building projects in the country. “We are in talks with a few large players and will be announcing the partnerships in 3-4 months. Apart from design, support and construction, we see ourselves playing an important role in energy evaluation services in the future,” said Mr Jansen, adding that the company could look at going public in two years as it was registering a 100 per cent growth rate every year.

Mr Ravishankar GV, Associate, Sequoia Capital India, said, “With several professional services from law to architecture moving offshore, we look for leading companies in their fields to have the greatest chance of long-term success.”

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