Pune and California-based tech startup Infinite Uptime has raised INR 305.5 crore (~USD 35 million) in a Series C funding round. The company offers predictive maintenance solutions for industrial machinery. Avataar Ventures led the round with StepStone Group, LGVP and existing investors Tiger Global and GSR Ventures participating. The company has raised a total funding of INR 560 crore (~USD 65 million) so far.
Taking Predictive Maintenance Global
With the new capital, Infinite Uptime will scale globally, especially in the US and other international markets. The company will invest in its IoT platform and develop a next-generation plant operating system that integrates operational and equipment data to boost reliability, productivity and energy efficiency.
Infinite Uptime was founded in 2015 by Raunak Bhinge and YC Chen. The company offers AI-driven predictive maintenance solutions to manufacturing industries. Its proprietary sensing technology, AI diagnostics and machine learning help industrial plants prevent unplanned downtime. This reduces maintenance costs and improves overall efficiency. The company serves sectors such as cement, steel, metals & mining, FMCG, chemicals, oil & gas, power, pharma, tires, automotive and construction.
From Startup to Powerhouse
Infinite Uptime operates in 26 countries with 800 plants. The company has achieved a milestone of 99% reduction in unplanned downtime for its customers. In FY24, the company’s revenue grew more than 2x to 54.74 crore from 24.71 crore in FY23, and loss reduced to 8.4 crore from 13.5 crore in FY23.
The company’s clients include big names like Vedanta Group, JSW Group, Tata Group, THK, Schlumberger, Marubeni Group, Ceat Tyres, Aditya Birla Group and Coca-Cola. By using its patented piezo-electric sensing technology and AI-led diagnostics, Infinite Uptime has helped manufacturers save over 74,274 hours of downtime and improve productivity, safety and compliance by 5-10%.
Industry 4.0 Ready
Industry 4.0 Ready? What is it? Industry 4.0 refers to the fourth industrial revolution. It is a period of AI integration, robotics, and IoT in manufacturing and industrial processes. This enables automated workflows. The manufacturing industry is going digital and is expected to be worth USD 40 billion in the next 3 years. Infinite Uptime is well-placed to ride this growth with a full stack plant reliability and energy efficiency solution.
The company competes with domestic and global players like UptimeAI, Sight Machine, Prospection, SparkCognition, Augury, Rockwell, Siemens and Honeywell. UptimeAI, one of its competitors, recently raised INR 117 crore (USD 14 million) in Series A funding to expand its AI solutions for manufacturing plants.
Investor Confidence and the Road Ahead
The funding is a testament to investor confidence in Infinite Uptime’s business model and market potential. Shobhit Gupta, Principal at Avataar Ventures, said the Industry 4.0 market is still in the early stages and will see exponential growth driven by AI and IoT adoption. Hunter Somerville, Partner at StepStone Group, said the company can solve critical challenges for manufacturers globally.
Raunak Bhinge, Founder and CEO of Infinite Uptime, added, “At Infinite Uptime, our mission is to drive the next wave of digital transformation in manufacturing by using AI and real-time data analytics to maximize plant reliability and operational efficiency.” As Industry 4.0 gains pace in manufacturing, Infinite Uptime will lead industrial maintenance with its AI-based predictive diagnostics and smart monitoring. With this funding, it will strengthen its position and scale up to meet the growing need for smart factory solutions.
For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.