Autodesk is a global leader in computer-aided design (CAD) software and is listed by Nasdaq. It has signed a definitive agreement for an undisclosed amount to acquire Pype – an AI-based construction software provider.

The companies have offices in India and its Pype acquisition, Autodesk India is expecting to capture a larger share of real-estate and construction market and looking forward to complete the projects on time without concerning the delay caused by COVID-19 lockdown.

Autodesk’s construction acquisition is the latest one in 2020 and it’s second in India after a minority stake in Aurigo Software in April. The demand for construction software is predicted to increase for faster completion in the next days and the government is also planning to mandate a few of them for its large projects.

Autodesk’s CEO Andrew Anagnost said, “Several hurdles that India’s construction sector come through include frequent miscommunication and workflow disruptions that lead to project delays

and cost overrun. Automation comes with an opportunity to do things better. AI, BIM, and Cloud-based collaboration can help in addressing these challenges to increase productivity, lower risks, and better output quality.”

The construction software is provided to airport and highway projects by Autodesk in India and it looks forward to work with the real-estate developers of the nation.

Anagnost said, “Pype employees based in India will join Autodesk shortly.”

Pype’s software helps in reducing manual entry and human error that leads to rework and cost overruns, and schedule delays on construction projects.

Autodesk’s technology leverages AI and ML for automatically analyzing and extracting critical construction data like project plans, and specifications that are to be used in the project lifecycle.

In a report by the Ministry of Statistics and Programme Implementation – At least 355 projects are cost overrun of INR 3.88 lakh crore and project time escalation counts to 553.

Anagnost also said that Autodesk has approximately 500 employees in India and the acquisition of Pype adds another 40 employees in the list. Pype technology and talent will help Autodesk construction cloud to become the most advanced and automated project management solution in the industry landscape.

Autodesk stated the acquisition will empower general contractors, subcontractors, and owners to have even more value from Autodesk Construction Cloud by automation critical construction workflows like submittals and closeouts for increasing productivity and mitigate project risk.

From 2017 Autodesk has been investing in nine construction technology startups and the company has also acquired Assemble, BuildingConnected, and PlanGrid with a total acquisition of $1.1+ billion.