The News Scroll 03 September 2020  Last Updated at 3:18 pm | Source: PTI

SenseHawk raises USD 5.1 mn from Alpha Wave Incubation, SAIF Partners

SenseHawk raises USD 5.1 mn from Alpha Wave Incubation, SAIF Partners
New Delhi, Sep 3 (PTI) Tech firm SenseHawk on Thursday said it has raised USD 5.1 million (about Rs 37.4 crore) in funding led by Alpha Wave Incubation (AWI).

Existing investor SAIF Partners also participated with a follow-on investment in the series A1 funding round, a statement said.

SenseHawk is a software as a service (SaaS) company that helps customers develop, build and operate solar and other infrastructure sites. The SenseHawk platform is used by over 80 customers to analyse over 28GW of solar assets in 15 countries.

Global installed solar capacity is expected to increase from the current 600 GW to 3,000 GW worldwide in 2030.

"As part of this investment from AWI, SenseHawk will expand 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 (MENA) and other global markets. SenseHawk will also build a world-class team of data scientists, product managers and engineers located in Abu Dhabi," the statement said.

SenseHawk co-founder and CEO Swarup Mavanoor said the investment through AWI provides strategic access to the MENA market in addition to powering the ongoing development of the company''s 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. 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," he added. PTI SR RUJ RUJ

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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