VC Fund Investments
Industrial IoT player infinite Uptime raises $18.85 M led by Tiger Global
Infinite Uptime, a Pune- and US-based industrial Internet of Things (IoT) company, has raised USD 18.85 million in Series B3 funding round, led by Tiger Global with participation from existing investors GSR Ventures, VenturEasta and Mayfield as well as strategic investor and customer THK. The funding will enable the company to strengthen its global marketshare and improve value delivery and service quality across industry segments. Infinite Uptime offers predictive maintenance and condition-based monitoring solutions for process and manufacturing companies. The company has over 300 customers globally, including Vedanta Group, JSW Group, Tata Group, THK, Schlumberger, Marubeni Group, Ceat Tyres, Aditya Birla Group, and Coca Cola. By leveraging its advanced analytics, AI and remote monitoring capabilities, Infinite Uptime claims to have enabled savings of over 11,000 hours of unplanned downtime for their customers. In December 2020, Infinite Uptime had raised USD 5.15 million (about INR 38 crore) in its Series B round led by VenturEast.
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