Pune-based Infinite Uptime raises $35 million, plans expansion in U.S. market

Infinite Uptime, a Pune and California-based startup helps manufacturers reduce maintenance downtime at their facilities, has raised $35 million in a Series C funding round led by Avataar Ventures.

The latest investment, which also includes participation from StepStone Group, LGVP, and existing backers Tiger Global and GSR Ventures, brings Infinite Uptime’s total funding to about $65 million since its launch in 2015.

Predictive solutions for aging equipment

Infinite Uptime’s technology uses sensors, analytics software, and artificial intelligence (AI) to spot issues with factory machinery before they cause breakdowns. The sensors work in demanding environments such as steel, cement, mining, and fertilizer plants, where equipment often runs under high temperatures or in acidic conditions.

By tracking data in real time and offering specific repair recommendations, it aims to help manufacturers cut downtime and save on energy and maintenance.

Growing demand for factory tech

The startup, which operates on a subscription model, claims it currently serves 800 plants in nearly 30 countries. Many of these plants have reported significant improvements in efficiency and safety, as well as a 5% to 10% gain in productivity.

Infinite Uptime’s approach includes installing its AI platform in both existing systems and new machines produced by original equipment manufacturers.

Founder Raunak Bhinge believes the startup's sensor-based, bottom-up strategy sets it apart from large automation firms that rely on top-down controls like programmable logic controllers.

Expansion and financial performance

The fresh capital will help Infinite Uptime strengthen its presence in the United States and other international markets. It also plans to invest more in research and development, including data science aimed at lowering energy use per ton of production.

According to company figures, revenue grew more than twofold to Rs 54.74 crore in the fiscal year ending March 2024, up from Rs 24.71 crore in the previous year, while losses shrank from Rs 13.5 crore to Rs 8.4 crore over the same period.

Bhinge said Infinite Uptime has been operationally cash-flow positive, and he credits the jump in revenue to steady demand from factories looking to reduce downtime and boost efficiency.