EnSights raises $10M for AI-powered clean energy optimization platform
EnSights raises $10M for AI-powered clean energy optimization platform
The Israeli startup has developed an energy optimization and management platform that scales business operations while aiming to maximize the financial and energy performance of renewable assets.
EnSights, which has developed an AI-powered, cloud-based clean energy optimization and management platform, has announced that it completed a $10 million Series A funding round, co-led by venture capital firms JAL Ventures and XT VC, with the participation of the Menomadin Foundation.
EnSights was founded in 2021 by experienced renewable energy entrepreneurs Alon Mashkovich, CEO, and Roy Fadida, CPO, together with Dekel Yaacov, CTO. The company has developed an AI-powered energy optimization and management platform that scales business operations while aiming to maximize the financial and energy performance of renewable assets.
According to enSights, the company has hundreds of active users managing more than 1.6 GWp on its platform, with its automation and smart workflows currently helping optimize the daily operations of over 6,000 clean energy assets.
"Seeing that over 70% of PV assets do not meet their forecasted output, losing thousands of dollars every day, it was clear that the market was in dire need of a sophisticated yet simple-to-use energy optimization platform. Our extensive conversations with clean energy stakeholders reinforce that asset owners and managers are searching for a next-generation solution to help scale their portfolios, streamline operations, and address increasingly complex energy needs," stated Alon Mashkovich, Co-Founder and CEO of enSights. "This latest investment is yet another vote of confidence that enSights has an upward trajectory in a global market that is forecasted to grow to six TWs of installed capacity by 2030."
EnSights previously raised over $2 million in total investments from The Big Light Renewable Energy Holdings, and Kahane Group, an electric, electronics, and home automation systems designer, and a leading local solar energy distributor.
