Infinite Uptime raises $35 mn led by Avataar, Others

Infinite Uptime, an IoT platform that automates predictive maintenance for industrial machines, raised $35 million led by Avataar Ventures, with participation from StepStone Group and LGVP (New York). Existing investors Tiger Global and GSR Ventures also participated in the round.
Infinite Uptime employs advanced Industry 4.0 solutions and digital-centric methodologies to develop proactive maintenance protocols. The company serves various manufacturing sectors, encompassing cement, steel, metals & mining, FMCG, chemicals, and additional industries.
Infinite Uptime is a plant reliability and energy efficiency solution provider, serving 800 plants across 26 countries. The company harnesses the power of its patented piezo-electric sensing technology along with contextualised process data to deliver 99.9% user-validated accurate predictions in the process industry.
With the latest funding, the company plans to accelerate its global service portfolio and invest in the next-generation plant operating system that securely integrates operational and equipment data to deliver comprehensive plant reliability, improved productivity, and enhanced energy efficiency. With the manufacturing digital transformation market projected to grow to over $40 billion in the next three years, Infinite Uptime believes there are significant opportunities to create value across different levers in the process industry ecosystem.
Raunak Bhinge, founder of Infinite Uptime, said, "At Infinite Uptime, our commitment to driving innovation in digital manufacturing intelligence is unwavering."
Shobhit Gupta, Principal at Avataar Ventures, said, "We believe that the Industry 4.0 market is still in its early innings and will experience exponential growth in the near future, fuelled by massive digital transformation spending on advanced AI and IoT technologies. Infinite Uptime’s full-stack AI-enabled offering has consistently delivered strong returns on investments to its marquee customer base and has become their de-facto platform of choice globally."
Infinite Uptime provides a full-stack plant reliability and energy efficiency offering that consists of proprietary sensing technology, AI-led diagnostics, prescriptions, prognostics, and tracking of interventions that deliver enhanced plant efficiency. Cumulatively, customers experienced a direct impact of 74,274 hours of downtime savings, equivalent to a 99% reduction in unplanned downtime, along with a 5% to 10% improvement in productivity, energy efficiency, safety, and compliance.