Infinite Uptime bags $35M to help factories optimize equipment usage

Infinite Uptime, an Indian startup specializing in predictive maintenance solutions for factories, has successfully raised $35 million in a Series C funding round. The funding will support the company’s expansion into the U.S. market and other global markets.

The manufacturing industry has been slower in embracing technology compared to other industries. Many heavy industries still rely on aging machines that consume significant amounts of energy. However, advanced technology is gradually making its way into factories, particularly in the maintenance and repair sector, which is the focus of Infinite Uptime.

The company utilizes proprietary sensors, software analytics, and AI-based diagnostics to provide predictive maintenance and repair recommendations. It also offers a smart dashboard for live monitoring capabilities.

Infinite Uptime’s founder, Raunak Bhinge, explained, “We provide manufacturers with precise recommendations and intervention points, outlining exactly what needs to be done in the plant and which assets require attention.”

The startup’s piezoelectric sensors are designed to offer diagnostics in challenging environments such as high temperatures and acidic settings. Bhinge mentioned that the company has secured approximately five patents in this area.

Although established players like Rockwell, Siemens, and Honeywell have been integrating AI-based automation in factories, Bhinge believes that Infinite Uptime’s tech stack sets it apart. He highlighted the startup’s unique approach compared to competitors and emphasized the limitations of other existing technologies in high-temperature applications.

Infinite Uptime primarily targets manufacturers in industries such as steel, cement, metals, mining, fertilizers, chemicals, and paper. The company also collaborates with OEMs to incorporate its AI technology into their products.

The startup has achieved significant results for its customers, including downtime savings of over 74,000 hours and improvements in productivity, energy efficiency, safety, and compliance.

With the latest funding round led by Avataar Ventures, Infinite Uptime plans to expand its presence in the U.S. market. The company has raised a total of approximately $65 million since its establishment in 2015.

Bhinge revealed that the company has experienced consistent revenue growth and is operationally cash-flow positive. The focus is now on product development and exploring potential M&A opportunities for further expansion.

In addition to investing in R&D and data science, Infinite Uptime aims to enhance its AI capabilities to optimize production efficiency and energy usage for manufacturers.

The company’s commitment to helping manufacturers reduce energy consumption per ton of production underscores its dedication to sustainability and efficiency in the industrial sector.