SenseHawk obtains $5.1 million in funding led by Alpha Wave Incubation (AWI)

SenseHawk, a solar software start-up has announced that it has raised $5.1 million in Series A1 funding to boost efficiency in the development, construction, and operation of solar power plants.

The investment round was steered by $300-million venture fund, Alpha Wave Incubation (AWI), which is backed by Abu Dhabi-based regional holding company ADQ and managed by global alternative asset manager Falcon Edge Capital.

As part of this investment, the company would magnify its presence to Abu Dhabi and use the Emirate as a global base for international expansion while also targeting the Gulf Cooperation Council (GCC) countries, Middle East and North Africa, and other global markets.

“The investment through AWI provides strategic access to the MENA market in addition to powering the ongoing development of our software platform,” believed Swarup Mavanoor, chief executive officer (CEO) and co-founder, SenseHawk.

The firm added that its prevailing investor, SAIF Partners, also participated with a follow-on investment.

“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,” said Anirudh Singh, managing director at Alpha Wave Incubation.

The SenseHawk platform is used by over 80 customers to evaluate over 28 GW of solar assets in 15 countries. It is also escalating its market offerings beyond solar.

Business | News published on 03/09/2020 by News Bureau

 
 
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