Prescinto

Prescinto, operated by Prescinto Technologies Private Limited, is a Bengaluru, India-based provider of asset performance management (APM) software-as-a-service for renewable energy. Its platform uses artificial intelligence and IoT-based connectivity to monitor, analyze and automate operations for solar, wind and energy storage assets. Core capabilities include data capture using open-source protocols with a data governance layer, centralized asset visualization with high-definition maps, real-time monitoring and custom alerts, AI-driven analysis to identify generation losses and surface trends and recommendations, and action prompts that support deployment of site teams for repair and maintenance work.

The company began with a focus on optimizing solar plant efficiency and later incorporated machine learning algorithms for real-time insight into plant performance. Prescinto states its patent-pending approach identifies root causes of generation loss and delivers actionable insights that raise power generation by roughly 7% at a cost of about 0.1% of revenue, which it describes as a 20x-50x return on investment for plant owners and operators. At the time of its acquisition by IBM in October 2024, Prescinto served customers in 14 countries with 16 GW of solar and wind assets under management.

IBM acquired Prescinto to extend the IBM Maximo Application Suite, its asset lifecycle management solution, into renewables monitoring and optimization, enabling near real-time tracking of solar, wind and storage asset performance, root-cause identification for underperformance, and recommendations to optimize generation.

Founding story

Prescinto was founded in 2016 to improve the efficiency of solar power plants, initially focused on optimizing solar plant output and later adding machine learning for real-time performance analytics. Sources give differing founder lists: Puneet Singh Jaggi is consistently identified as founder and CEO, with co-founders variously reported as Sanjay Bhasin and Ramadas (Ram) C Menon, and in other reports Anmol Jaggi or Akhil Khurana.

Business model

Software-as-a-service licensed to owners and operators of renewable energy plants, with the platform positioned as a low-cost layer (stated at about 0.1% of plant revenue) that increases generation and operations-and-maintenance efficiency.

Subscription-based SaaS for asset performance management of renewable energy portfolios. Reported revenue of INR 8.2 crore in FY23, up about 39.8% from INR 5.8 crore in FY22.

Traction

Reported 16 GW of renewable assets under management across 14 countries at the time of the IBM acquisition, up from over 8,000 MW of solar plants across 14 countries reported around late 2020, when the company claimed 3x annual growth. FY23 revenue of INR 8.2 crore, versus INR 5.8 crore in FY22.

Latest developments

On 15 October 2024, IBM announced it had acquired Prescinto to enhance the IBM Maximo Application Suite and strengthen its position in the energy and utilities sector; financial terms were not disclosed in the sources.