Industrial IoT Innovator Infinite Uptime Raises $18.85 Million In Series B3 Funding The funding will enable the company to further strengthen its global market share and multiply value delivery and service quality across industry segments
By Teena Jose
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Infinite Uptime, a leading provider of predictive maintenance solutions for industrial machinery, has raised $18.85 million in Series B3 funding round. The round was led by Tiger Global, a prominent 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. This funding will enable the company to further strengthen its global market share and multiply value delivery and service quality across industry segments.
"This investment is a strong validation of our business strategy and growth potential. This will enable us to invest heavily into fundamental research and 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's cutting-edge technology digitizes assets and leverages vibration monitoring to diagnose faults and provide recommendations for large-scale industrial machinery remotely. By leveraging their advanced analytics, AI and remote monitoring capabilities, Infinite Uptime has enabled savings of over 11,000 hours of unplanned downtime for their customers, claimed by the company in a statement.
"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," said Griffin Schroeder, partner, Tiger Global Management.
