Tech firm SenseHawk announced on Thursday that it has raised $5.1 Mn in funding led by Alpha Wave Incubation (AWI) and existing investor SAIF Partners. Alpha Wave Incubation (AWI) is a $300 million venture fund managed by Falcon Edge Capital, a leading global alternative asset manager, and backed by ADQ.
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 analyze over 28GW of solar assets in 15 countries.
The application modules on the SenseHawk platform support site and terrain management, construction monitoring, operations, thermography, work management, and file organization.
Swarup Mavanoor, CEO and Co-founder of SenseHawk said, “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 being a long-term partner to the startups they invest in.”
Anirudh Singh, Managing Director, Alpha Wave Incubation talking about the funding said, “SenseHawk has sophisticated technology, strong global traction and a leadership team with deep experience in the solar industry. 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.”
With the help of the funds, company is planning to expand its offerings and customer base to Abu Dhabi and use the UAE as a global base for international expansion, while also targeting the Gulf Cooperation Council (GCC) countries, the Middle East and North Africa (MENA), and other global markets.