IoT & AI-based Startup 'Presage Insights' secures Rs. 5. 6 crore in Seed Funding
Presage Insights, a startup specializing in IoT and AI-driven predictive maintenance, has raised Rs. 5.6 crore in a seed funding round led by YourNest Venture Capital. The investment is part of the YourNest-SanchiConnect Velocity Program 2024.
The company plans to utilize the funds to expand its market reach, scale its operations, and drive innovation, according to a press release.
Founded in 2021 by Aman Bhambra, Atul Sharma, and Kamalpreet Singh Sidhu, Presage Insights provides a platform that integrates advanced IoT sensors with a cloud-based software solution to monitor machine health in real-time.
By leveraging AI-driven diagnostics, the platform generates actionable insights to predict and prevent equipment failures. These solutions help manufacturers reduce maintenance costs—saving up to $6,000 per machine annually—while extending equipment lifespan and addressing the industrial workforce skills gap.
Based in Noida, the company aims to enhance industrial AI and IoT solutions by improving efficiency, productivity, and sustainability. Its focus is on reducing machine downtime, strengthening predictive maintenance, and transforming traditional manufacturing into a smart, automated ecosystem that minimizes waste.
The global predictive maintenance market is projected to expand from $7.5 billion in 2023 to $88.8 billion by 2032, growing at a CAGR of 31.6%. Presage Insights is addressing the rising demand for predictive, real-time solutions that help manufacturers optimize resources, improve productivity, and reduce waste.
Its solutions are already in use across industries such as FMCG, steel, cement, automotive, and process manufacturing, serving clients like Adani, Abbott Healthcare, BPCL, and Kansai Nerolac. The company also plans to launch new industrial hardware models and expand into markets in the Middle East, South America, and South Asia.
The company plans to utilize the funds to expand its market reach, scale its operations, and drive innovation, according to a press release.
Founded in 2021 by Aman Bhambra, Atul Sharma, and Kamalpreet Singh Sidhu, Presage Insights provides a platform that integrates advanced IoT sensors with a cloud-based software solution to monitor machine health in real-time.
By leveraging AI-driven diagnostics, the platform generates actionable insights to predict and prevent equipment failures. These solutions help manufacturers reduce maintenance costs—saving up to $6,000 per machine annually—while extending equipment lifespan and addressing the industrial workforce skills gap.
Based in Noida, the company aims to enhance industrial AI and IoT solutions by improving efficiency, productivity, and sustainability. Its focus is on reducing machine downtime, strengthening predictive maintenance, and transforming traditional manufacturing into a smart, automated ecosystem that minimizes waste.
The global predictive maintenance market is projected to expand from $7.5 billion in 2023 to $88.8 billion by 2032, growing at a CAGR of 31.6%. Presage Insights is addressing the rising demand for predictive, real-time solutions that help manufacturers optimize resources, improve productivity, and reduce waste.
Its solutions are already in use across industries such as FMCG, steel, cement, automotive, and process manufacturing, serving clients like Adani, Abbott Healthcare, BPCL, and Kansai Nerolac. The company also plans to launch new industrial hardware models and expand into markets in the Middle East, South America, and South Asia.
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