Reliance Industries announces acquisition of majority stake in SenseHawk

SenseHawk, acquired by Reliance Industries, offers an SDP SaaS for process optimization, automation, and asset information management

Reliance Industries has signed definitive agreements to acquire a majority stake in SenseHawk for a total transaction value of USD 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. 

Speaking about the acquisition, Mukesh D Ambani, chairman and managing director, Reliance Industries Limited, said: “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 and make solar energy the go-to source of power in lockstep with our vision for solar energy. It is a very exciting technology platform and I am confident that, with RIL’s support, SenseHawk will grow multifold.” 

SenseHawk has helped 140+ customers in 15 countries adopt new technology for their 600+ sites and assets totalling 100+ GW. SenseHawk’s Solar Digital Platform offers end-to-end management of solar asset lifecycles. 

Commenting on the partnership, Swarup Mavanoor, CEO and Co-Founder, SenseHawk, said, “Rahul Sankhe, Karthik Mekala, Saideep Talari, Viral Patel and I collaborated with a vision to impact all of the processes in the solar lifecycle. 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.” 

The transaction is subject to certain regulatory and other customary closing conditions and is expected to complete before end 2022.