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Infinite Uptime, a predictive maintenance solutions provider for industrial machinery, has raised $18.85 million in Series B3 round.
The round was led by Tiger Global, a global investment firm, with participation from existing investors GSR Ventures, VenturEast, Mayfield and THK. The company is also backed by Belgium-based innovative impact investor KOIS.
The company’s technology digitises assets and leverages vibration monitoring to diagnose faults and provide recommendations for large-scale industrial machinery remotely.
This Series B3 funding will enable the company to further strengthen its global market share and multiply value delivery and service quality across industry segments, it said.
‘Strong validation’
“This investment is a strong validation of our business strategy and growth potential. This will enable us to invest heavily into fundamental research & product development, expand our capabilities and overall expertise, helping us deliver more value and exceed the needs of our customers in an ever-evolving market,” said Raunak Bhinge, Founder and CEO, Infinite Uptime.
Infinite Uptime said it is serving over 300 customers globally. Some of its notable clients include Vedanta Group, JSW Group, Tata Group, THK, Schlumberger, Marubeni Group, Ceat Tyres, Aditya Birla Group and Coca Cola.
Griffin Schroeder, Partner, Tiger Global Management, said, “Infinite Uptime has helped their manufacturing partners see improved plant reliability, production volume, and overall efficiency. We are excited to be investing behind them and their continued growth.”
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