Bangalore: Infinite Uptime, an IIoT startup has raised $5.15 million in Series B funding led by VenturEast, with participation from THK and existing investors Mayfield, GSR Ventures, IIML, and GiTV.
Infinite Uptime is based out of two locations – Berkeley, USA and Pune, India and offers predictive maintenance and condition-based monitoring solutions for process and manufacturing companies.
“We lay a heavy emphasis on value delivery at Infinite Uptime,” said Raunak Bhinge, Founder and CEO – Infinite Uptime.
“With this additional capital infusion, we will further strengthen our customer relationships and ensure the availability of the most cost-effective diagnostics service for machines that reduce equipment downtime drastically, reduce bearing consumption and optimise spares inventories,” Bhinge informed.
“We will also make this technology available at scale, invest heavily in R&D to further enhance our diagnostic solution and ensure that even the most remote process plants can have their equipment monitored and reliability assured 24×7,” he added
It specializes in High-Frequency Data Analytics, such as Triaxial Vibration, Acoustic analyses, Spectral analyses and configurable Edge diagnostics to diagnose faults and recommend timely corrections remotely.
Also, has built a proprietary hardware device, an advanced “Industrial Data Enabler” (IDE) and software solutions enable process industries to monitor their machines in real-time.
There is an estimated 100 million high capex equipment (gearbox, pumps, motors, spindle, and blowers) across industries in India that require continuous monitoring and are critical to the delivery of the end product/service. None of these is connected in real-time.
The IIoT startup has over 200 customers including Daikin, Crompton Greaves, Siemens, RSB Transmissions, THK, JSW, Reitz, TVS Motors and Tata Steel.
“Infinite Uptime has developed over 80,000 asset libraries that help in early detection of anomalies on the edge through a unique edge computing technique, which is a significantly differentiated play.”
“Further, it’s advanced AI/ML capabilities on the cloud and configurable edge diagnostics lead to real-time actionable insights,” said Sanjeev Yamsani, Principal – VenturEast.
VenturEast is one of India’s pioneering Venture capital fund managing approximately $350 million AUM. The fund is currently investing out of its fifth fund with a focus on enterprise tech and consumer tech.
Infinite Uptime said its platform has monitored over 75 million machine hours and delivered over 10000 actionable insights.
The IIoT startup sees a huge value creation opportunity across key equipment such as motors, pumps, gearboxes and blowers across process and manufacturing industries globally.