Wednesday, 17 March 2021

Prescinto, renewable energy startup raises $3.5 Mn in the seed round


Prescinto, renewable energy startup raises $3.5 Mn in the seed round

Prescinto, a leading tech startup reinventing the renewable energy industry through its AI-powered platform, has raised funding of $3.5 Mn in the seed round through Mumbai Angels Network and other External Investors.

Prescinto is an IIoT Platform designed for vendor-agnostic connectivity and real-time insights for Solar plants. It is currently the most advanced solution in an industry which is still at the data acquisition and visualization stage. The company offers a comprehensive suite of services including data acquisition & visualization, advanced analytics, and O&M automation, with a strong pipeline of IPs in the domain. 

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.

After demonstrating itself with customers like Radiance Renewables, SoftBank Energy, etc, and establishing its leadership in the Indian market, Prescinto plans to expand to and capture International markets through its single-minded focus on performance enhancement.

Puneet Singh Jaggi, Founder, and CEO at Prescinto said, “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. I am extremely thankful for the trust of our investors who have partnered with us in this very exciting journey ahead!”
Dean Menezes, Mumbai Angels Investor commented, " We are going to see a lot of activity in the green energy and energy storage space in the next decade. Prescinto is backed by an experienced team and is well poised to offer a SaaS Platform to green energy companies to optimize their facilities. Prescento can then ride wave in the development of green energy and energy storage technologies."
Nandini Mansinghka, Co-Promoter and CEO, Mumbai Angels Network commented "The Indian renewable energy sector has gained momentum in the last decade creating new opportunities for players in performance enhancement. Prescinto has developed an AI platform that helps renewable energy players increase their profitability by increasing the power generation and return-on-investment (RoI) of solar plants.  This investment will accelerate Prescinto's growth trajectory and we are  delighted to welcome Prescinto in our diversified portfolio.”

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