Infinite Uptime Secures $35 Mn To Expand Presence In The US

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SUMMARY

The round also saw participation from investors such as StepStone Group and LGVP, along with existing investors, including Tiger Global and GSR Ventures, TechCrunch reported

The startup will use the capital to expand its footprint in the US and other markets

Founded in 2015 by Raunak Bhinge and YC Chen, Infinite Uptime offers tech-enabled real-time fault diagnostics and monitoring for key mechanical equipment

Deeptech startup Infinite Uptime has raised $35 Mn (around INR 305.5 Cr) in its Series C funding round led by Avataar Ventures.

The round also saw participation from investors such as StepStone Group and LGVP, along with existing investors, including Tiger Global and GSR Ventures, TechCrunch reported.

The startup will use the capital to expand its footprint in the US and other markets.

Founded in 2015 by Raunak Bhinge and YC Chen, Infinite Uptime offers tech-enabled real-time fault diagnostics and monitoring for key mechanical equipment. It predicts the discrepancies in machines using frequency analysis of vibrations, monitored via sensors integrated into the machines.

The startup claims to serve more than 300 customers across over 800 plants and 26 countries.

It has a presence in India, the US, the UAE and provides services across 16 industries, including cement, steel, metals & mining, FMCG, chemicals, oil and gas, power, pharma, among others..

Infinite Uptime counts Vedanta Group, JSW Group, Tata Group, THK, Schlumberger, Marubeni Group, Ceat Tyres, Aditya Birla Group and Coca Cola among its clientele.

It last raised $18.85 Mn in its Series B-3 funding round led by Tiger Global and participation from KOIS, GSR Ventures, VenturEast, Mayfield, and THK in 2023.

It competes against the likes of startups like Augury and Brisa Technologies and global players like Rockwell, Siemens, and Honeywell in the tech-enabled management solutions for factories segment.

The funding comes at a time when enterprise tech startups continue to attract investors’ interest. Earlier this month, DarwinBox raised $140 Mn in a funding round led by Partners Group and KKR. Last month, SpotDraft raised $54 Mn in its Series B funding round led by Vertex Growth and Trident Partners

The enterprise tech sector emerged as the third-most funded sector in India’s startup ecosystem in 2024, with over 167 startups raising $1.8 Bn. The funding amount for the enterprise tech sector zoomed 38.5% from $1.3 Bn in 2023.