Industrial IoT innovator Infinite Uptime raises $18.85M in Series B3 round led by Tiger Global
An industrial Internet of Things (IoT) business called Infinite Uptime has raised $18.85 million in a Series B3 investment round. Tiger Global served as the round's lead investor, with participation from previous backers GSR Ventures, VenturEast, Mayfield, and THK. Innovative impact investor KOIS, based in Belgium, supports the business. The business raised $5.15 million (about Rs 38 crore) in its Series B round, which was sponsored by VenturEast, in December 2020. The cash will allow the company to increase value delivery and service quality across industrial segments while also strengthening its worldwide marketshare.
"This investment is a strong validation of our business strategy and growth potential," stated Raunak Bhinge, founder and CEO of Infinite Uptime. This will allow us to increase our capabilities and total experience, which will help us deliver more value and meet or surpass the expectations of our clients in a constantly changing market. We will also be able to spend extensively in fundamental research and product development.
For industrial and process organisations, Infinite Uptime provides condition-based monitoring and predictive maintenance solutions. It focuses in using high-frequency data analytics to remotely diagnose problems and suggest effective fixes.
Vedanta Group, JSW Group, Tata Group, THK, Schlumberger, Marubeni Group, Ceat Tyres, Aditya Birla Group, and Coca-Cola are just a few of the company's more than 300 international clients. Infinite Uptime asserts that by utilising its sophisticated analytics, AI, and remote monitoring capabilities, it has helped its clients avoid over 11,000 hours of unscheduled downtime.
"Infinite Uptime has assisted their manufacturing partners in observing increased production volume, plant reliability, and general efficiency. Gryphon Schroeder, Partner at Tiger Global Management, said, "We are thrilled to be investing behind them and their continuing growth. "Mayfield, as the company's first investor, has seen Infinite Uptime evolve to become not only a market leader but also an advocate for the Internet of Things. Infinite Uptime is embarking on a fantastic trajectory, and we continue to be enthused and invest with other investors in it, said Vikram Godse, Managing Partner at Mayfield.
"This investment is a strong validation of our business strategy and growth potential," stated Raunak Bhinge, founder and CEO of Infinite Uptime. This will allow us to increase our capabilities and total experience, which will help us deliver more value and meet or surpass the expectations of our clients in a constantly changing market. We will also be able to spend extensively in fundamental research and product development.
For industrial and process organisations, Infinite Uptime provides condition-based monitoring and predictive maintenance solutions. It focuses in using high-frequency data analytics to remotely diagnose problems and suggest effective fixes.
Vedanta Group, JSW Group, Tata Group, THK, Schlumberger, Marubeni Group, Ceat Tyres, Aditya Birla Group, and Coca-Cola are just a few of the company's more than 300 international clients. Infinite Uptime asserts that by utilising its sophisticated analytics, AI, and remote monitoring capabilities, it has helped its clients avoid over 11,000 hours of unscheduled downtime.
"Infinite Uptime has assisted their manufacturing partners in observing increased production volume, plant reliability, and general efficiency. Gryphon Schroeder, Partner at Tiger Global Management, said, "We are thrilled to be investing behind them and their continuing growth. "Mayfield, as the company's first investor, has seen Infinite Uptime evolve to become not only a market leader but also an advocate for the Internet of Things. Infinite Uptime is embarking on a fantastic trajectory, and we continue to be enthused and invest with other investors in it, said Vikram Godse, Managing Partner at Mayfield.
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