New Delhi: Infinite Uptime, an Industrial Internet of Things (IoT) startup, has successfully secured $18.85 million in a Series B3 funding round led by Tiger Global. Other participants in the funding round include GSR Ventures, VenturEast, Mayfield, and THK, the company’s existing investors. With this substantial investment, the company aims to enhance its global market share and expand its value delivery and service quality across various industry segments.
At the core of Infinite Uptime’s offerings lies its innovative platform, which enables industrial companies to maintain seamless operations of their machinery. By leveraging vibration monitoring and digitalization of assets, the company can remotely diagnose faults and provide valuable recommendations for large-scale industrial equipment.
Impressively, Infinite Uptime already serves a vast clientele, boasting over 300 customers worldwide. Prominent companies such as Vedanta Group, JSW Group, Tata Group, THK, Schlumberger, Marubeni Group, Ceat Tyres, Aditya Birla Group, and Coca Cola have availed themselves of the company’s services. Infinite Uptime proudly claims to have saved its customers a staggering 11,000 hours of unplanned downtime, a testament to the effectiveness of its solutions.
With the fresh capital infusion, Infinite Uptime is well-positioned to solidify its position in the industrial IoT market. The company seeks to meet the growing demand for reliable and efficient machine monitoring solutions by expanding its global reach and fortifying its offerings.
Through continuous innovation and strategic partnerships, Infinite Uptime strives to revolutionize industrial operations, maximizing productivity and minimizing costly disruptions caused by unforeseen equipment failures.