Pune-based industrial IOT solution provider, Infinite Uptime, has collectively received about $5 Million ‘Series A’ funding from multiple venture capital funds across the world.
Raunak Bhinge, founder and managing director, Infinite Uptime, announced it during a press conference last week.
Mayfield: Seed & Series A investors have invested $1.37 million; IL & FS has invested $2 million, GSR Ventures: Seed & Series A Investors have invested $1.37 million and GiTV: Series A Strategic Investors $0.26 million in Infinite Uptime.
“Lack of a scalable way to connect and analyse data coming from mechanical machinery and connecting it to the industrial ecosystem has been a common problem across the industry. This has been resulting in unanticipated breakdown in spite of large number of initiatives in machine digitisation. According to an estimate, lack of a scalable predictive analytics for mechanical systems results in 70 per cent of the breakdown as compared to other causes such as thermal, hydraulic or electrical,” said Bhinge.
“We provide a solution to engineering and process industry, primarily in mechanical predictive maintenance to prevent production losses incurred due to machine breakdown…,” he added.
Headquartered in Pune, Infinite Uptime has support teams in cities like Chennai, Bengaluru, Ahmedabad and Delhi NCR.