Solar Analytics Firm SenseHawk Raises $2 Million in Series A Funding
The initial focus of the company is on the rapidly growing solar industry
September 26, 2018
SenseHawk, a cloud-based enterprise platform leveraging artificial intelligence (AI) analytics on data collected from autonomous systems such as drones, has raised $2 million from SAIF Partners and other angel investors in Series A funding.
The Series A round of investment will be utilized for business development and engineering. Expansion of business outside of India, U.S. and Australia will be a key focus in addition to strengthening of existing contracts.
Swarup Mavanoor, the co-founder and CEO of SenseHawk said in media statement, “Our goal is to digitize infrastructure asset industries through the creation of a scalable AI driven platform that combines new age sensor data and expert knowledge to deliver insights to users across functions. With large investments into new infrastructure and strong downward pressure on investment returns, combating process inefficiency with new sensing technologies and intelligent software has become a critical requirement. We are addressing exactly this requirement with an initial focus on the solar industry.”
The initial focus of the company is on the rapidly growing solar industry with future expansion to other similar sectors. SenseHawk is based in San Francisco, Bengaluru, and Mumbai and currently has customers in India, U.S. and Australia.
A growing number of innovative startups in the sector have lately been securing attractive investments for their projects.
Recently, ZunRoof, an Indian solar rooftop startup, raised ₹16.6 million ($0.25 million) in second round of angel funding from I3N (Intellecap Impact Investment Network) led by Pradeep Tharakan, senior energy specialist at Asian Development Bank (ADB), Vismay Sharma, managing director at L’Oreal (U.K. and Ireland), Ajith Pai (Paipal Ventures), Gaurav Gupta (Asia Director, Dalberg Advisors) and a group of IIT Kharagpur alumni based in the U.S.
Prior to that, Oorjan, a firm active in the rooftop solar PV segment, raised ₹30,867,600 ($450,000) in seed funding to help expand its presence in the Indian rooftop solar sector.
Saumy Prateek
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