Prescinto is a renewable energy asset performance management (APM) software-as-a-service (SaaS) provider. The acquisition was made by industrial research organization IBM.
In March 2021, Venture Catalysts led a $3.5 million seed round for Prescinto.
Prescinto’s capabilities leverage artificial intelligence (AI) to facilitate sophisticated monitoring, analytics, and automation to optimize renewable energy operations and oversee clean energy and storage assets.
The Bengaluru-based company, which was founded by Puneet Jaggi, Anmol Jaggi, and Sanjay Bhasin, provides services to clients worldwide in 14 countries and manages 16 GigaWatts.
BluSmart is a mobility company that Anmol and Puneet Jaggi co-founded.
The capabilities of IBM’s asset lifecycle management solution, IBM Maximo Application Suite (MAS), will be improved by the acquisition of Prescinto. Water, natural gas, oil, nuclear, and other energy and utility companies around the world, according to the company, already use IBM MAS.
By enabling users to track and monitor the performance of solar, wind, and energy storage assets in almost real-time, the acquisition will further enable IBM to support clients’ sustainability initiatives and net-zero goals.
