Infinite Uptime Secures $35M Funding to Revolutionize Factory Equipment Optimization
Infinite Uptime, a leading Indian startup specializing in predictive maintenance solutions for manufacturing industries, has successfully secured $35 million in a Series C funding round. This capital will enable the company to expand its reach into the U.S. market and other international territories.
Transforming the Manufacturing Landscape with Technology
The manufacturing sector has historically lagged behind other industries in terms of technological adoption. Many factories still rely on aging machinery that consumes excessive energy. However, advancements in technology are gradually being integrated into manufacturing processes, particularly in the realm of maintenance and repairs—an area where Infinite Uptime excels.
Innovative Predictive Maintenance Solutions
Infinite Uptime offers a suite of predictive maintenance services through its proprietary sensors, advanced software analytics, and AI-driven diagnostics. The company also provides a smart dashboard that allows for real-time monitoring of equipment.
Raunak Bhinge, founder of Infinite Uptime, shared insights with TechCrunch, stating, “We give manufacturers pinpointed recommendations and intervention points, detailing what actions are required in the plant, the parameters to monitor, and which assets need correction.”
Advanced Sensor Technology
The startup’s piezoelectric sensors are capable of operating in extreme temperatures and challenging environments, including those containing phosphoric, nitric, and sulfuric acids. Bhinge noted that Infinite Uptime has secured five patents related to this innovative technology.
Competitive Landscape and Unique Approach
While established companies like Rockwell, Siemens, and Honeywell have long provided AI-based automation solutions for factories, Infinite Uptime positions itself as distinctly innovative. Bhinge asserts that the company’s technology stack is “fairly unique,” contrasting it with traditional top-down approaches that rely on programmable logic controllers (PLCs) or programmable limit switches (PLS). He also highlights the limitations of battery-based microelectromechanical systems (MEMS) offered by some competitors in high-temperature applications.
Target Industries and Partnerships
- Steel
- Cement
- Metals
- Mining
- Fertilizers
- Chemicals
- Paper
Infinite Uptime collaborates with Original Equipment Manufacturers (OEMs) to integrate its AI technology into their new products, enhancing overall operational efficiency.
Impressive Results and Future Plans
To date, Infinite Uptime reports that its solutions have contributed to a remarkable 74,274 hours of downtime savings for clients, alongside improvements in productivity, energy efficiency, safety, and compliance ranging from 5% to 10%.
Currently serving about 800 plants across nearly 30 countries, the company plans to leverage its recent funding to deepen its presence in the U.S. market. The Series C funding round was led by Avataar Ventures and included participation from StepStone Group and LGVP, along with existing backers Tiger Global and GSR Ventures. This latest round brings Infinite Uptime’s total funding since its inception in 2015 to approximately $65 million, according to Crunchbase.
Financial Growth and Investment in R&D
Bhinge revealed that the startup’s revenue has doubled annually for the past three years, and the company is now operationally cash-flow positive. The new funds will be allocated towards product development and exploring potential mergers and acquisitions to facilitate growth.
With a workforce of around 350 employees, Infinite Uptime also plans to invest heavily in research and development, particularly in data science, to enhance its AI capabilities. Bhinge emphasized their commitment to helping manufacturers reduce energy usage per ton of production from existing capacities.
For more information on how predictive maintenance can revolutionize manufacturing, visit our dedicated page.
