Infinite Uptime, an Indian startup that provides predictive maintenance solutions for factories, has secured $35 million in a Series C funding round to expand its reach in the U.S. and other markets.
The manufacturing sector has been slower in embracing technology compared to other industries. However, modern technologies are gradually making their way into factories, particularly in maintenance and repair, which is the area Infinite Uptime specializes in.
The company utilizes proprietary sensors, software analytics, and AI-based diagnostics to offer predictive maintenance and repair recommendations. It also offers a smart dashboard for live monitoring.
Infinite Uptime’s founder, Raunak Bhinge, mentioned that the company provides manufacturers with precise recommendations and intervention points for optimizing plant operations.
The startup’s piezoelectric sensors can provide diagnostics in challenging environments like high temperatures and industries with complex acidic substances. Infinite Uptime has secured multiple patents in this field.
Although larger manufacturers and some startups have been implementing AI-based automation and predictive maintenance, Bhinge believes that Infinite Uptime stands out due to its unique technological approach.
Infinite Uptime caters to manufacturers in various industries like steel, cement, metals, mining, and chemicals. The company also collaborates with OEMs to integrate its AI technology into their products.
The startup has helped customers achieve significant savings in downtime and improvements in productivity, energy efficiency, safety, and compliance.
With the new funding, Infinite Uptime plans to further expand its operations in the U.S. and invest in product development. The Series C funding round was led by Avataar Ventures, StepStone Group, LGVP, Tiger Global, and GSR Ventures.
Infinite Uptime has experienced substantial revenue growth over the past few years and is cash-flow positive. The company aims to enhance its AI insights, boost production efficiency, and explore M&A opportunities.
The startup, with around 350 employees, intends to focus on R&D and data science to further improve its services for manufacturers.
Infinite Uptime’s goal is to help manufacturers use energy more efficiently in production processes by optimizing existing build capacity.
