SUMMARY
- IBM acquires renewable energy SaaS startup Prescinto to strengthen its asset management capabilities.
- Prescinto provides AI-based advanced monitoring and automation for renewable energy assets, managing over 16 GigaWatts globally.
- The acquisition will enhance IBM’s Maximo Application Suite and support client sustainability and net-zero initiatives.
Global technology leader IBM has announced the acquisition of Prescinto, a Bengaluru-based SaaS provider specializing in asset performance management (APM) for renewable energy. The financial details of the deal have not been disclosed, but the acquisition is set to enhance IBM’s existing Maximo Application Suite (MAS), used for asset lifecycle management across industries.
Founded by Puneet Jaggi, Anmol Jaggi, and Sanjay Bhasin, Prescinto offers AI-powered solutions that streamline the operations of clean energy and storage assets. With over 16 GigaWatts under management across 14 countries, Prescinto’s software provides advanced monitoring, analytics, and automation, enabling more efficient renewable energy management.
Prescinto raised $3.5 million in a seed round led by Venture Catalysts in March 2021. Puneet and Anmol Jaggi, co-founders of BluSmart, have played pivotal roles in Prescinto’s growth.
IBM’s acquisition of Prescinto is a strategic move to enhance its ability to support clients’ sustainability initiatives, particularly in achieving net-zero goals. By integrating Prescinto’s AI-driven APM platform, IBM will help customers monitor and track the performance of solar, wind, and energy storage assets in near real-time, expanding MAS capabilities, which are already utilized by industries such as water, natural gas, oil, and nuclear energy.
