SenseHawk, a Saratoga, California-based provider of a SaaS platform for customers to develop, build and operate solar and other infrastructure sites through insights, raised $5.1m in Series A1 funding.
The round was led by Alpha Wave Incubation, a $300m venture fund, managed by Falcon Edge Capital, a 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.
The company intends to use the funds to expand its presence to Abu Dhabi, use UAE as a global base for international expansion while also targeting the Gulf Cooperation Council (GCC) countries, MENA and other global markets, and build a team of data scientists, product managers and engineers located in Abu Dhabi.
Led by Swarup Mavanoor, CEO and co-founder, and Saideep Talari, CTO, SenseHawk provides a cloud-based platform and application modules that allows users to 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 AI and machine learning models.
The platform is used by over 80 customers to analyze over 28 GW of solar assets in 15 countries.
FinSMEs
03/09/2020