San Francisco, Mumbai and Bengaluru-based SenseHawk, a intelligent cloud-based platform focused on the energy and infrastructure sector, has raised $2 million in funding. The investor was SAIF Partners.
National, September 26, 2018: SAIF Partners has invested $2 million in SenseHawk, an intelligent cloud based platform for maximizing energy and infrastructure asset performance with an initial focus on utility scale Solar. The Series A round of investment will be utilized for business development and engineering. Expansion of business outside of India, US and Australia will be a key focus in addition to strengthening of existing contracts.
SenseHawk is attempting to transform the way asset enterprises operate by using AI and ML coupled with data collected from autonomous unmanned aerial vehicles (UAVs) and other novel sensing platforms. Its solutions combine different kinds of UAVs, sensors, data processing and planning chains to create decision making tools that drive productivity in energy and infrastructure industries.
Swarup Mavanoor, Co-founder and CEO, SenseHawk said, “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.”
“We are happy to have gained valuable support from SAIF as it adds a lot of credibility to our business model. The expanded capital base will allow SenseHawk to focus on business development, expand geographically and diversify the depth of solutions offered to enterprises,” he added.
Announcing the investment, Mayank Khanduja, Principal, SAIF Partners said, “We are thrilled to partner with Sensehawk in their quest to build a unique data solutions platform that leverages computer vision and artificial intelligence. We are impressed at the upside that Sensehawk solution brings to the multi billion dollar Solar industry today and will soon do the same for other industries. As the solar industry attracts more investment, we believe that Swarup, Rahul and their team will be at the forefront of building an intelligent analytics platform that allows asset owners to maximize asset performance, and we feel excited to work with them on this next phase of growth.”
SenseHawk provides easy to use end to end aerial data solutions for the Infrastructure and Mining Industry. From managing the autonomous Unmanned Aerial Vehicle (UAV) to subsequent data management and analysis tools, the platform provides an end to end solution to enterprises so that they get the highest quality of data for planning large scale projects.
The company has a 20 member team with operations in India, US and Australia and more than 20 leading corporates as their customers.
The company is also planning to acquire talent and further strengthen its presence in other geographical markets in the next 12-18 months.
SenseHawk is a San Francisco, Mumbai and Bengaluru based platform that enables owners, managers and developers of solar assets to gain new insights about their plants that enable maximisation of returns. It was co-founded by Rahul Sankhe and Swarup Mavanoor.
SenseHawk is a leader in solar data analytics having delivered unique and innovative solutions for over 11 GWs of solar plants at different stages of the plant life cycle. The company uses advanced sensing technologies such as UAVs to collect data from remote locations and analyze it using AI and ML techniques to create useful, actionable outputs for key decision makers.
The platform has three different components. SenseHawk’s ‘Link’ app controls drone flight to enable autonomous operation of the drones for data collection in a pre-programmed pattern required for an application. The second key element of the solution is the Artificial Intelligence Engine (HawkAI) that sees and identifies the hidden patterns in the data very effectively. The platform also provides a web based interface, Unity, that makes it easy for enterprises to seamlessly collect, analyse and generate insights that are important for decision making.
For more information, please visit: www.sensehawk.com
About SAIF Partners
SAIF Partners is a leading venture capital firm which provides seed, early, and growth stage capital for emerging companies in India and China. SAIF began partnering with entrepreneurs in India in 2002 and has backed various companies since then including market leaders like MakeMyTrip (NASDAQ listed, online travel), JustDial (NSE listed, online classifieds), PayTM (e-commerce and payments), BookMyShow (events ticketing), Rivigo (logistics), Swiggy (online food ordering app), ShareChat (social networking) among others.
The fund is led by managing partner Ravi Adusumalli, along with six managing directors Deepak Gaur, Vishal Sood, Alok Goel, Mukul Arora, Mridul Arora, Vivek Mathur. The firm has a portfolio of companies in the consumer, education, finance, healthcare internet, IT services, logistics, mobile amongst others.
Offices are in Gurgaon and Bengaluru.