PR85381

TOKYO, LONDON and SYDNEY, Sept. 3, 2020 /PRNewswire=KYODO JBN/ --

SenseHawk, a SaaS platform that helps customers develop, build and operate

solar and other infrastructure sites through superior insights, announced today

that it has raised $5.1 million in Series A1 funding. The investment round was

led by Alpha Wave Incubation (AWI), a $300m venture fund, managed by Falcon

Edge Capital, a leading global alternative asset manager, and backed by ADQ,

one of the largest regional holding companies based in Abu Dhabi. Existing

investor SAIF Partners also participated with a follow-on investment.

SenseHawk's cloud-based platform and application modules solve several

challenges in the development, construction and operation of solar sites. Its

application modules enable solar companies to reduce costs, enhance workforce

productivity and improve solar site performance leveraging sophisticated AI and

machine learning models.

The platform is used by over 80 customers to analyze over 28 GW of solar assets

in 15 countries and the company is focused on expanding its offerings and

customer base as the world increasingly moves to renewable energy. Global

installed solar capacity is expected to increase from the current installed

base of 600GW to 3,000 GW worldwide in 2030

[https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2019/Nov/IRENA_Fut

ure_of_Solar_PV_2019.pdf ]. Moreover, it is already expanding its market by

serving customers in road infrastructure, power transmission and construction

industries, and deepening its suite of offerings beyond solar.

Application modules on the platform support site and terrain management,

construction monitoring, operations, thermography, work management and file

organization. A mobile app extends the power of the platform and brings data to

field techs with all the information at their fingertips.

Furthermore, SenseHawk will expand its presence to Abu Dhabi and use UAE as a

global base for international expansion while also targeting the Gulf

Cooperation Council (GCC) countries, MENA and other global markets. It will

also build a world-class team of data scientists, product managers and

engineers located in Abu Dhabi.

"The investment through Alpha Wave Incubation provides strategic access to the

MENA market in addition to powering the ongoing development of our software

platform. The follow-on investment by SAIF Partners is a validation of our

direction and reaffirms their commitment to be a long-term partner to the

startups they invest in," said Swarup Mavanoor, CEO and co-founder of

SenseHawk. "Solar construction is on a fast trajectory and this new funding

enables us to continue to support designers, builders and operators of this

critical form of renewable energy."

"SenseHawk has sophisticated technology, strong global traction and a

leadership team with deep experience in the solar industry. We are excited to

back an industry-leading AI-first SaaS company which brings about step-function

increases in performance, productivity and cost efficiencies for their

customers. Its platform offers immense application to the UAE and the GCC's

already large and burgeoning renewable energy sector," said Anirudh Singh,

managing director at Alpha Wave Incubation.

"Over the last two years, we have seen SenseHawk build a best-in-class platform

to serve the entire solar lifecycle," said Mayank Khanduja, managing director,

SAIF Partners. "Their marquee global customers are a testament to the power of

the platform. We are excited to reaffirm our commitment to SenseHawk in this

round."

"The SenseHawk platform uses a microservices architecture that enables us to

easily build and integrate tools that can serve both technical and business

processes in the solar industry," said Saideep Talari, CTO of SenseHawk.

About SenseHawk

https://sensehawk.com/about-us/ 

About Alpha Wave Incubation

https://www.volanews.com/portal/article/index/id/7852.html 

About Falcon Edge Capital

https://www.falconedgecap.com/ 

About SAIF Partners  

http://www.saifpartners.com/about/ 

For more information, reach out to press@sensehawk.com

Source: SenseHawk