your password has been reset successfully, Please login again.

IoT firm Infinite Uptime raises $5 mn Series A fund

The funds would be used primarily to expand its presence and team size.
BY BEx Bureau
Jul 24, 2018

The Pune-headquartered industrial internet of things (IoT) firm Infinite Uptime said that it had raised $5 million in Series A funding from a set of venture and private equity funds.

These are Mayfield ($1.37M), ILFS ($2M), GSR Ventures ($1.37M) and a strategic investment of $0.26M by GiTV. The funds would be used primarily to expand its presence and team size.

Raunak Bhinge, managing director at Infinite Uptime, said: Our technical team is currently in the United States (US); we will be setting up a 15-member technical team in India and aim to grow to 100 people from the current 35 over the next year.

The company provides solutions to engineering and process industry, primarily in mechanical predictive maintenance to prevent production losses incurred due to machine breakdown. Our solution is a combination of a unique smart sensor system and edge computing that gathers all the required mechanical data from the machine where it is installed, analyses it from various aspects at the edge and provides information critical to predictive maintenance of the machine helping save good amount of downtime thereby improving productivity, said Bhinge.

Currently, 80% of Infinite Uptimes customers are in India and the company has recently set up a team in China.

Abhijit Jorvekar, chief growth officer, Infinite Uptime said that the solution helps the industry to move from preventive maintenance to predictive and proactive maintenance that can reduce breakdown by about 70%. The startup currently works with companies like Godrej, Siemens, Kalyani Group companies and Tata group firms across industries like automotive, textile, processing, power, steel, defence and cement.

Please add your Comment
November 20, 2018
Through this investment, BillDesk will develop new product lines for its payments and loyalty busine ...More
By Vaishnavi Gupta
November 19, 2018
Ananth Narayanan, Chief Executive Officer of Myntra, will continue to lead the team. ...More
By Vaishnavi Gupta
November 16, 2018
This acquisition will help FarEye to reinforced its growth plans to solve challenges for long-haul a ...More
By Vaishnavi Gupta
November 14, 2018
True North has acquired a 75% stake in Shree Digvijay Cement Company Ltd from Brazil-based Votoranti ...More
By Vaishnavi Gupta
November 13, 2018
The investment is made by the firm to boost its capabilities to deliver tech solutions that will hel ...More
By Vaishnavi Gupta
November 12, 2018
With this acquisition, Mphasis will increase its end-to-end capabilities in the public cloud domain, ...More
By Vaishnavi Gupta
November 12, 2018
This acquisition will help Mumbai-listed AGC to add over $600 million in annual revenue and about 3, ...More
By Vaishnavi Gupta
November 09, 2018
The acquisition is in line with the company's strategy to boost the value for its stakeholders throu ...More
By Vaishnavi Gupta
November 03, 2018
Viithiisys, with this acquisition, will expand its product portfolio and list of clients. ...More
By Vaishnavi Gupta
November 02, 2018
Post acquisition, W12 Studios will be a part of TCS Interactive, the digital division of the IT serv ...More
By Vaishnavi Gupta
November 01, 2018
The fresh funds will be used by Turms to expand its product categories, hire tech talent and launch ...More
By Vaishnavi Gupta
October 31, 2018
The funds raised will be used by Duroflex to expand to new markets across India. ...More
By Vaishnavi Gupta