Infinite uptimeAn Indian startup that offers predictive maintenance solutions for factories has collected $ 35 million in a series of C finance round to expand its footprint in the US and other markets.
The production industry has left many industries in the approval of technology, and a large part of the heavy industry in the world still depends on machines, many aging and consuming a lot of energy. That said, modern technology is slowly but surely finding its way to factories, especially for maintenance and repairs – the space -end uptime is directed.
The company says that it offers predictive maintenance and repair recommendations with the help of its own sensors, software analyzes and on AI-based diagnostics. It also has a smart dashboard that offers live security options.
“We give manufacturers powered recommendations and intervention points, exactly what needs to be done in the factory, which parameters should be viewed, which must be actively corrected,” Raunak Bhinge from Infinite Uptime told Techcrunch.
The startup says that his piezo -electric sensors can offer diagnostics at high temperatures and complex acid environments such as phosphoric acid, nitric acid and sulfuric acid plants. It has secured about five patents in this room, Bhinge said.
To be clear, this is not a completely new chance in the market-large manufacturers such as Rockwell, Siemens and Honeywell have made factories with AI-based automation possible for some time. Likewise, some startups such as Sercitcher Help factories detect problems with their machines using sensors and AI.
But Bhinge believes that infinite uptime is ‘fairly unique in terms of the technical stack’, which explains that the approach to the startup is not top-down, such as his larger competitors who use programmable logical controllers (PLC) or programmable limit switches (PLS). He argued that even the battery-based micro-electromechanical systems (MEMS) that some startups offer have limited use cases and do not work effectively for high temperature applications.
Infinite Uptime focuses manufacturers in the steel, cement, metal, mining, fertilizers, chemicals and paper industry. It also works with OEMs to connect its AI layer to their new products.
Cumulatively says Infinite Uptime that the solutions have helped customers the downtime savings of 74,274 hours and 5% to 10% improvement in productivity, energy efficiency, safety and compliance.
The startup is currently serving 800 factories in nearly 30 countries, and with the new financing it wants to further expand its presence in the US. The series C was led by Avataar Ventures and saw participation of Stepstone Group and LGVP, together with existing investors Tiger Global and GSR Ventures. De Ronde raises the total capital of the company to around $ 65 million since its foundation in 2015, per Crunchbase.
Bhinge said that the income from the startup has risen twice in the last three years and it is operational cash flow positive. The company wants to place the new cash in the direction of product development and is planning to evaluate M&A options to further scale up.
Infinite Uptime, who has around 350 employees, is also planning to invest more in R&D and Data Science to improve its AI insights and “further close the gap between construction capacity and actual production and also improve production -efficiency,” said Bhinge.
“We invest in how we can help manufacturers […] Use less energy per ton of production of their existing construction capacity, “he said.
