RIL To Acquire Majority Stake In SenseHawk SenseHawk is a solar digitization platform with customers throughout the solar asset lifecycle in the US, EMEA, APAC and SEA

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Reliance Industries Ltd has signed definitive agreements to acquire a majority stake in SenseHawk Inc for a total transaction value of $32 million, including funding for future growth, commercial rollout of products and R&D.

Founded in 2018, SenseHawk is an early-stage California-based developer of software- based management tools for the solar energy generation industry. SenseHawk helps accelerate solar projects from planning to production by helping companies streamline processes and use automation.

"We welcome SenseHawk and its dynamic team to our family. RIL is committed to revolutionize the green energy sector and has a vision to enable 100 GW of solar energy by 2030. In collaboration with SenseHawk, we will drive down costs, enhance productivity and improve on-time performance to deliver the lowest LCoE for solar projects globally. It is a very exciting technology platform and I am confident that, with RIL's support, SenseHawk will grow multifold," said Mukesh D. Ambani, chairman and managing director, Reliance Industries Limited.

"We are delighted with the confidence that RIL has demonstrated in us with this investment. The SenseHawk team foresees strategic value in working with RIL, as one of the largest global infrastructure corporations and look forward to this next phase in our growth," said Swarup Mavanoor, CEO and co-founder, SenseHawk.

SenseHawk has operations in the United States, the UAE and India. SenseHawk's software digitization platform (SDP) SaaS helps with process optimization, automation and asset information management. The SDP enables yield improvement, defect identification, progress monitoring, productivity enhancement, cost reduction, collaboration and data management throughout the solar lifecycle. From development and construction, through operations and maintenance, SenseHawk software has been deployed on 600-plus solar sites worldwide.

Shrabona Ghosh

Correspondent

A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Business News

He 'Accidentally Discovered' a Semi-Passive Side Hustle in College — Now He's on Track to Make More Than $500,000 This Year

When a lack of funding put a stop to Zach Downey's pizza vending machines, he stumbled upon another lucrative idea.

Thought Leaders

46 Facts You Should Know About Entrepreneurship (Infographic)

Before embarking on your entrepreneurial journey, check out this handy graphic.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Marketing

The Rules of SEO Are Changing — Here Are 5 Powerful Strategies to Help You Rank in 2024

Do you need help to rank well on Google due to new algorithm updates? Discover five SEO strategies that work in 2024.

News and Trends

Ananya Birla's Svatantra Microfin Receives USD 230 Mn from Advent International and Multiples

Mumbai-based Svatantra offers financial and non-financial solutions to women entrepreneurs in India.

Branding

6 Tips for Successfully Communicating Your Personal Brand

Follow these simple guidelines to stand out from the crowd and effectively broadcast your own personal brand to the world.