Austin,-based enSights, a cloud-based clean energy optimization startup, has successfully raised $10 million in Series A funding, signaling strong investor confidence in the company’s innovative approach to renewable energy management.
The funding round was co-led by venture capital firms JAL Ventures and XT VC, with additional support from the Menomadin Foundation. This financial boost will enable enSights to expand its global presence, with a particular focus on establishing a stronger foothold in the United States market.
Founded in 2021 by renewable energy entrepreneurs Alon Mashkovich (CEO), Roy Fadida (CPO), and Dekel Yaacov (CTO), enSights has quickly become a leader in the distributed generation segment. The company’s AI-powered platform addresses a critical challenge in the renewable energy sector: the significant underperformance of photovoltaic (PV) assets.
“Over 70% of PV assets do not meet their forecasted output, losing thousands of dollars daily,” said Mashkovich. “Our platform provides a sophisticated yet user-friendly solution to optimize energy operations.”
The company’s platform currently manages over 6,000 clean energy assets across four continents, with hundreds of active users overseeing more than 1.6 gigawatts of power. The investment comes at a time of rapid growth in the clean energy market, with operations and maintenance software spending projected to increase from $40-$61 billion in 2023 to $67-$101 billion by 2027.
Tal Shaked from JAL Ventures highlighted the company’s unique positioning at the intersection of solar energy expansion, energy storage growth, and artificial intelligence. “enSights offers a modular, scalable design that solves real-world challenges in the energy sector,” Shaked noted.
The funding will support enSights’ continued technological development, market expansion, and efforts to streamline clean energy asset management. With this latest investment, the company is well-positioned to play a significant role in the global transition to renewable energy.