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Infinite Uptime raises $35 Mn in Series C round

EntrackrEntrackr · 5m ago
Infinite Uptime raises $35 Mn in Series C round
Medial

Infinite Uptime, a provider of predictive maintenance solutions for industrial machinery, has secured $35 million in its Series C round, led by Avataar Ventures with participation from StepStone Group and LGVP, along with existing investors Tiger Global and GSR Ventures. The Pune- and California-based startup has raised around $65 million to date, including an $18.85 million Series B3 round in May 2023. The fresh funds will drive Infinite Uptime's growth, facilitating the advancement of its IoT platform, broadening its presence in the manufacturing sector, and expanding its footprint in the U.S. and other international markets. Founded in 2015 by Raunak Bhinge, Infinite Uptime leverages advanced AI and machine learning to remotely diagnose and predict machinery issues, aiming to improve operational efficiency and reduce downtime. The startup currently serves 800 plants in nearly 30 countries and focuses on manufacturing industries, including cement, steel, metals & mining, FMCG, chemicals, oil & gas, power, pharma, tires, automotive, construction, pipes, and others. For the fiscal year ending in March 2024, Infinite Uptime's revenue surged more than two-fold to Rs 54.74 crore in FY24 from Rs 24.71 crore in FY23. The company managed to control its losses to Rs 8.4 crore in FY24 from Rs 13.5 crore in the previous year. Infinite Uptime competes with UptimeAI, which raised $14 million in a Series A round in July last year. Other global competitors include Sight Machine, Prospection, SparkCognition, and Augury.

DesignX raises $2 Mn in pre-Series A round led by Rockstud Capital

EntrackrEntrackr · 28d ago
DesignX raises $2 Mn in pre-Series A round led by Rockstud Capital
Medial

DesignX raises $2 Mn in pre-Series A round led by Rockstud Capital Noida-based DesignX has raised $2 million in a Pre-Series A funding round led by Rockstud Capital, with participation from We Founder Circle, Piper Serica, and existing clients. The proceeds will be used to expand across India and international markets, and to enhance the platform's AI and integration capabilities. Founded in 2015 by engineers Rajat and Nishant Srivastava, the firm offers a digital factory operating system (Df-OS) that digitizes over 600 factory floor processes and integrates with existing ERP, IoT, and enterprise tools to provide real-time operational insights. DesignX currently serves clients including Unilever, Suzuki, Dabur, Hero, and others across sectors like automotive, FMCG, and pharma. It competes with players such as Precog, Infinite Uptime, and Lynkit in the Industry 4.0 and smart manufacturing space.

UptimeAI raises $14 Mn in Series A round

EntrackrEntrackr · 1y ago
UptimeAI raises $14 Mn in Series A round
Medial

Artificial intelligence startup UptimeAI has raised $14 million in its Series A funding round led by WestBridge Capital. The round also saw participation from existing investor Emergent Ventures and new investor Aditya Birla Ventures. UptimeAI will use the proceeds to scale up its tech platform, expand product portfolio and presence in North America, Middle East and Asia. The company has bases in Bengaluru and San Francisco as well. Five-year-old UptimeAI creates AI-based solutions that help plant operators maximise efficiency and reliability. As per the company, its team has core competency in areas including power, oil and gas, chemicals, metals, and aerospace among others. UptimeAI’s four modules include – connect the dots, no code predictive alerts, inferencing engine for prescriptive actions, and continuous self-learning. It has a patented system and method for monitoring complex structures to identify the root cause of inefficiencies. In September last year, Bharat Petroleum Corporation Limited (BPCL) tied up with UptimeAI to optimize operational efficiency. Led by Jagadish Gattu and Vamsi Yalamanchili, UptimeAI was one of the selected startups in the YourNest SOAR Program. In February 2021, UptimeAI also raised $1.5 million in seed funding from YourNest Venture Capital and angel investors. UptimeAI competes with Tiger Global-backed Infinite Uptime, which raised $18.85 million in a round in May last year. Other global competitors include Sight Machine , Prospection SparkCognition, and Augury.

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