IBM bought Prescinto, the Bengaluru startup whose AI watches 16GW of renewables

Prescinto is a Bengaluru SaaS platform using AI for advanced monitoring, analytics and automation of clean energy and storage assets.

That solar, wind and storage operators need AI-driven asset performance management as renewable fleets scale beyond spreadsheet operations.

Raised $3.5 million in a seed round led by Venture Catalysts in March 2021.

Founded by Puneet Jaggi, Anmol Jaggi and Sanjay Bhasin; the Jaggi brothers are also cofounders of mobility company BluSmart.

After the 2021 seed, Prescinto scaled to 16GW of assets under management across 14 countries, using AI to streamline renewable energy operations.

IBM acquired Prescinto to fold its capabilities into the IBM Maximo Application Suite, letting energy and utility clients track solar, wind and storage performance in near real time and support net-zero goals.

Renewables generation is weather-dependent and distributed, so asset performance is the difference between a profitable wind farm and a stranded one.

A purpose-built renewables APM could win operations teams in a way horizontal asset software could not.

IBM's Maximo already sat inside the world's energy and utility enterprises; renewables monitoring was the missing module.

Net-zero commitments gave every MAS client a new reporting need that near-real-time clean-energy tracking answers directly.

Vertical AI for one asset class can out-run horizontal enterprise tools — and end as the acquisition that completes an incumbent's suite.

The acquisition, reported 2024-10-15, put Prescinto's 16GW of monitored assets and its AI operations tooling inside IBM Maximo, extending IBM's asset-management business into the renewables buildout its energy clients were funding.