Data solutions startup Sensehawk Technologies Pvt. Ltd has raised $2 million (Rs 13.6 crore) in a Series A round led by venture capital and growth equity investment firm SAIF Partners. Besides SAIF, few angel investors also participated in the round.
Bangalore and California-based Sensehawk aims to revolutionize Infrastructure and Mining space using data from autonomous unmanned aerial vehicles (UAVs) and Drones.
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.
Founded in 2016, by Swarup Mavanoor and Rahul Sankhe, SenseHawk is building a suite of SaaS tools that work to streamline processes across the life-cycle of infrastructure assets. Its solutions work with the latest data acquisition tools including UAVs, IoT enabled devices and SCADA systems to provide asset owners, developers, investors, lenders, EPC contractors and technical teams with timely and super accurate information.
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.
Source – IndiaInfoline