IBM has announced the acquisition of Prescinto, a Bengaluru-based SaaS startup specializing in asset performance management (APM) for renewable energy operations. This strategic move aims to strengthen IBM’s Maximo Application Suite (MAS) by integrating Prescinto’s AI-driven capabilities, enhancing IBM’s asset lifecycle management for the energy and utilities sector.

Founded by Puneet Jaggi, Anmol Jaggi, and Sanjay Bhasin, Prescinto helps streamline renewable energy operations through advanced monitoring, analytics, and automation. The startup manages over 16 gigawatts of clean energy and storage assets across 14 countries. Its technology enables clients to track the performance of solar, wind, and energy storage systems in near real-time, supporting sustainability and net-zero goals.

Prescinto previously raised $3.5 million in seed funding led by Venture Catalysts in 2021. Its co-founders, Puneet and Anmol Jaggi, are also co-founders of BluSmart, a mobility company.

IBM’s acquisition of Prescinto will further empower enterprises in the water, natural gas, oil, nuclear, and renewable energy sectors, expanding IBM’s efforts in sustainability initiatives.