Infinite Uptime Secures $35M Funding for Factory Optimization

Infinite Uptime Secures $35 Million in Series C Funding

Infinite Uptime, a predictive maintenance solutions provider for industrial facilities based in India, has successfully completed a $35 million Series C funding round. This investment will be utilized to broaden the company’s reach within the United States and other key global markets.

Addressing a Gap in Manufacturing Technology

The manufacturing sector has historically been slower to integrate new technologies compared to other industries. A significant portion of global heavy industry still relies on aging machinery, often characterized by high energy consumption. However, advancements in modern technology are progressively being adopted within factories, particularly in the areas of maintenance and repair – a niche Infinite Uptime is focused on.

Proprietary Technology for Predictive Maintenance

The company delivers predictive maintenance and repair suggestions through the use of its own sensors, sophisticated software analytics, and AI-driven diagnostics. A key component is a smart dashboard offering real-time monitoring capabilities.

“Our approach provides manufacturers with precise recommendations and intervention points, detailing the specific actions needed within the plant, the parameters to monitor, and the assets requiring correction,” explained Raunak Bhinge, founder of Infinite Uptime, in an interview with TechCrunch.

Sensor Capabilities in Harsh Environments

Infinite Uptime’s piezoelectric sensors are designed to function effectively in extreme temperatures and challenging chemical environments. These include facilities processing phosphoric acid, nitric acid, and sulphuric acid. The company has already secured approximately five patents related to this technology, according to Bhinge.

Competitive Landscape

While not a novel concept, the market for AI-powered industrial maintenance is becoming increasingly competitive. Established manufacturers such as Rockwell, Siemens, and Honeywell have long offered AI-based automation solutions for factories. Furthermore, startups like Augury are also providing sensor-based and AI-driven solutions for machine problem detection.

Differentiating Factors

Bhinge asserts that Infinite Uptime possesses a “fairly unique tech stack.” He highlights that their methodology differs from larger competitors who typically employ programmable logic controllers (PLC) or programmable limit switches (PLS). He also contends that battery-powered microelectromechanical systems (MEMS) utilized by some startups have limited applicability, particularly in high-temperature scenarios.

Target Industries and Partnerships

Infinite Uptime primarily serves manufacturers in the steel, cement, metals, mining, fertilizer, chemical, and paper industries. The company also collaborates with Original Equipment Manufacturers (OEMs) to integrate its AI capabilities into their new products.

Proven Results and Impact

The company reports that its solutions have enabled customers to achieve downtime reductions of 74,274 hours. Additionally, clients have experienced improvements ranging from 5% to 10% in productivity, energy efficiency, safety, and regulatory compliance.

Expansion Plans and Funding Details

Currently, Infinite Uptime supports 800 plants across nearly 30 countries. The new funding will accelerate its expansion within the U.S. market. Avataar Ventures led the Series C round, with participation from StepStone Group and LGVP, alongside existing investors Tiger Global and GSR Ventures. This round brings the company’s total funding to approximately $65 million since its founding in 2015, as reported by Crunchbase.

Financial Performance and Future Strategy

Bhinge stated that the startup’s revenue has doubled annually for the past three years and that the company is currently operationally cash-flow positive. The new capital will be allocated to product development and potential mergers and acquisitions to facilitate further growth.

Investment in R&D and AI Enhancement

With a team of approximately 350 employees, Infinite Uptime intends to increase investment in research and development, as well as data science. This will enhance its AI-driven insights and “further reduce the disparity between production capacity and actual output, while also improving production efficiency,” Bhinge explained.

“We are focused on assisting manufacturers in … minimizing energy consumption per unit of production from their existing capacity,” he concluded.