Monday, April 12, 2021
Techiexpert.com
No Result
View All Result
  • Login
  • Register
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging
Techiexpert.com
No Result
View All Result

Solar Analytics Startup Prescinto raises $3.5 million in Seed Round

Srikanth by Srikanth
March 18, 2021
in Tech news
Reading Time: 3 mins read
A A
0
U GRO Capital, Sunvest Capital launch Rs.20 crore Rooftop Solar Co-Lending Programme
11
SHARES
150
VIEWS
Share on FacebookShare on Twitter

Prescinto, a leading tech startup reinventing the renewable energy industry through its AI-powered platform has raised $3.5 million in a Seed round, participated by Inflection Point Ventures. The round has been led by Venture Catalysts and saw participation from Mumbai Angels and Lets Venture. It is the 7th deal announcement by IPV since Jan 2021. IPV is likely to invest Rs 155 crore this year across 60 plus startups.

Prescinto is an IIOT and AI-powered clean energy SaaS platform that increases solar power plant generation by 5%. The platform increases solar power plant generation by ~7% at cost of 0.1% of revenue resulting in 20X-50X RoI.

Prescinto’s AI identifies the root causes of the plant’s underperformance in real-time and helps in reducing costs of operation and maintenance. With an aim to increase clean energy without additional investment, the startup identifies and reduces the losses in the plant. This resulted in a return of 20X-50X for solar asset owners and operators in the first year itself.

Mitesh Shah, Co-Founder, Inflection Point Ventures says, “Switching to clean energy is no more an option but a must do for industries. Alternate energy sources like Solar and Wind are game changing and have been supported by the Govt. We liked Prescinto because of their technologically disruptive idea which doesn’t need high capital deployment and serves a critical need of enterprises running large scale alternate energy projects. The Founding team’s experience in this domain elevated our confidence in them, and hence we backed the startup.”

ADVERTISEMENT

Puneet Singh Jaggi, Founder and CEO, Prescinto says, “At Prescinto, we are building the brain of solar projects using AI. We are building tech which will herald the future of clean energy not only in India but across the world. To have a partner and a supportive investor in IPV, it will only help us reach our aspirations in much quicker time.”

Supported by a proven founding team, Prescinto has already demonstrated itself with customers like Macquarie (Stride Climate Investments), Essel Infrastructure, GMR, etc, to achieve traction of 3X annual growth reaching ~9 GW Solar Plants across 14 countries.

The AI-powered SaaS platform collects the data of the concerned plant, applies data science models, resulting in identifying causes of underperformance. The tool also suggests ways how the plant can improve the generation.

Prescinto has been recognized amongst the top 10 AI startups by Stellaris Venture Partners and International Finance Corporation as well as awarded the RE Assets Award for the best data Analytics platform by the Solar Quarter.

The company has established its leadership in the Indian market by working with large customers like Radiance Renewables and SoftBank Energy. Prescinto plans to expand in international markets like the US with a single minded focus on performance enhancement.

With the total market size of renewable energy being $1.2 Bn in 2019 and estimated to be $4.6 Bn in 2030, Prescinto aims at bringing out the best of innumerable solar plants installed globally. The platform is beneficial for solar plant owners, project operators and site team members by helping them with automation and optimizing inventory.

Tags: PrescintoSolar Analytics
Share4Tweet3Share1Pin1
Srikanth

Srikanth

Passionate Tech Blogger on Emerging Technologies, which brings revolutionary changes to the People life.., Interested to explore latest Gadgets, Saas Programs

Related Posts

Microsoft Teams is coming under Government Community Cloud
Tech news

COVID accelerated a push to the Microsoft cloud. Top reason: Microsoft Teams — ShareGate Report

by Srikanth
April 10, 2021
Microsoft new gaming device powered by Azure
Tech news

Digitate’s ignio™ AIOps For Azure Now Available in the Microsoft Azure Marketplace

by Srikanth
April 8, 2021
Four Practical Applications Of Artificial Intelligence And 5G
Tech news

Four Practical Applications Of Artificial Intelligence And 5G

by Srikanth
April 7, 2021
Demographic Data
Tech news

How Can Demographic Data Be Used to target a market effectively?

by Sony T
April 7, 2021
Could we see online casinos utilize new technologies further?
Tech news

Could we see online casinos utilize new technologies further?

by Sony T
April 7, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Latest Stories

How to get started with AIOps?
Artificial Intelligence

How to get started with AIOps?

by Srikanth
April 11, 2021
Websites For Conducting a Background Check
Startup news

Essential background checks that every Australian startup should use

by Sony T
April 11, 2021
Microsoft Teams is coming under Government Community Cloud
Tech news

COVID accelerated a push to the Microsoft cloud. Top reason: Microsoft Teams — ShareGate Report

by Srikanth
April 10, 2021
PumPumPum
Startup news

PumPumPum raises INR 5.5 Cr in Pre-Series A funding led by IPV

by Sony T
April 9, 2021
Load More
Techiexpert.com

© 2020 All Rights Reserved

  • Terms of use
  • Privacy Policy
  • About Us
  • Contact us
  • Write For Us
  • Cookie Policy

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging

© 2020 All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Newsletter ?

What is Expected ?

  • Newsletter
  • eBooks
  • Tech Reports
  • Infographic
  • Webinar
  • Event Tickets
We would like to show you notifications for the latest news and updates.
Dismiss
Allow Notifications