SenseHawk Bags $5.1M in Series A1 Round of Financing

By StartUp City | Monday, September 21, 2020

The company plans to use the proceeds to expand its presence to Abu Dhabi, use UAE as a global base for international expansion while also targeting the MENA, Gulf Cooperation Council (GCC) countries, and other global markets, and build a team of product managers, data scientists, and engineers located in Abu Dhabi.

FREMONT, CA: SenseHawk, a Saratoga, California-based provider of a SaaS platform for customers to develop, build, and operate solar and other infrastructure sites through insights, closed $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 funded by ADQ, one of the largest regional holding companies based in Abu Dhabi. Existing investor SAIF Partners also actively participated with a follow-on investment.

The company plans to use the proceeds to expand its presence to Abu Dhabi, use UAE as a global base for international expansion while also targeting the MENA, Gulf Cooperation Council (GCC) countries, and other global markets, and build a team of product managers, data scientists, 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 enable users to solve several challenges in the development, construction, and operation of solar sites. Its application modules empower solar companies to reduce costs, improve workforce productivity, and improve solar site performance utilizing AI and machine learning models.

The platform is used by more than 80 customers to analyze over 28 GW of solar assets in 15 countries.

 “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,” stated Swarup Mavanoor, co-founder and CEO of SenseHawk.

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