Alpha Wave fund invests in SenseHawk, to set up India team

Photo by Zbynek Burival on Unsplash

Alpha Wave Incubation (AWI), a $300-million venture fund managed by Falcon Edge Capital, has led a $5.1-million Series A1 funding round in California and Bengaluru-based solar software startup SenseHawk per an announcement.

Apart from SenseHawk, the Abu Dhabi’s ADQ-backed fund has so far invested in four other startups, including Entropik, Verloop, Hippo Video, and Avail Finance. According to a report in The Economic Times, the fund has about five more deals in the pipeline in areas like edtech, consumer brand and social commerce.

Alpha Wave Incubation, which was set up in May this year, is also setting up a team of 10-12 members for its India investment and operating functions.

“AWI is building out an India and Abu Dhabi team of somewhere between 10 and 12 people at the outset, including a programme manager, a CFO, controller, etc to provide the portfolio assistance on product market, strategy, and hiring,” the report said.

Commenting on the firm’s latest investment SenseHawk, Anirudh Singh, managing director at Alpha Wave Incubation, said, “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. Its platform offers immense application to the UAE and the GCC’s already large and burgeoning renewable energy sector.”

SenseHawk has also secured investment from existing investor SAIF Partners in the latest round. The startup claims that its application modules enable solar companies to reduce costs, enhance workforce productivity and improve solar site performance leveraging AI and machine learning models. Its platform is used by over 80 customers to analyse over 28 GW of solar assets in 15 countries.

SenseHawk plans to expand presence to Abu Dhabi and use UAE as a global base for international expansion while also targeting the Gulf Cooperation Council (GCC) countries, MENA and other global markets.

“The investment through Alpha Wave Incubation provides strategic access to the MENA market in addition to powering the ongoing development of our software platform. Solar construction is on a fast trajectory and this new funding enables us to continue to support designers, builders and operators of this critical form of renewable energy,” Swarup Mavanoor, CEO and co-founder of SenseHawk said.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.