Tiger Global Backs Indian Industrial Iot Startup Infinite Uptime In $18.8M Funding Round

May 22, 2023•about 2 years ago

Amount Raised

$18.8 Million

PuneSoftware

Investors

ThkVentur EastGsr VenturesMayfieldTiger Global

Description

Infinite Uptime, an Indian industrial IoT startup that offers predictive maintenance solutions for machinery, has secured an additional $18.85 million as part of an ongoing funding round led by Tiger Global at a valuation of $60 million post-money.

Company Information

Company

Infinite Uptime

Location

Pune, Maharashtra, India

About

Infinite Uptime is an Industrial AI pioneer, offering 99.99% guaranteed equipment reliability and up to 2% energy reduction per unit of production to help global industrials unlock up to $2 Trillion in value. Serving over 800 plants across 26 countries, the company harnesses the power of its piezo-electric sensing technology along with contextualized process data to deliver user-validated diagnostics and recommendations to improve efficiencies in the process industry. These prescriptions, along with interventions, have added over 70,000 additional production hours in industries like Steel, Cement, Metals, Paper, Energy, Chemicals, Tires, Pharma, F&B and FMCG.

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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

Tiger Global Backs Indian Industrial Iot Startup Infinite Uptime In $18.8M Funding Round

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Description

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