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Noida-based Presage Insights raises Rs 5.6 crore in a seed funding round

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Sumit Vishwakarma
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Presage Insights

Presage Insights, a Noida-based provider of IoT and AI-powered predictive maintenance, has raised Rs 5.6 crore in a seed funding round led by YourNest Venture Capital

The investment is part of the YourNest-SanchiConnect Velocity Program 2024. The startup plans to use the new funds to expand its market presence, scale operations and drive innovation in its products.

What does Presage Insights do?

Founded in 2021 by entrepreneurs Aman Bhambra, Atul Sharma and Kamalpreet Singh Sidhu, Presage Insights offers a platform that combines advanced IoT sensors with cloud-based software. This technology monitors machine health in real-time and uses AI-driven diagnostics to predict and prevent equipment failures.

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By doing so, the Noida-based startup said that it helps manufacturers save up to $6,000 per machine every year, extend the lifespan of critical equipment and address the skills gap in the industrial workforce.

It aims to empower the industrial AI and IoT solutions landscape, helping manufacturers achieve higher efficiency, productivity, and sustainability.

Growing demand for predictive maintenance

Presage Insights said its solutions are deployed across a range of industries, including FMCG, steel, cement, automotive and process manufacturing. The startup's customers include well-known names such as Adani, Abbott Healthcare, BPCL and Kansai Nerolac. 

As part of its growth strategy, Presage Insights is planning to introduce new hardware models designed for industrial use and to expand into international markets in the Middle East, South America and South Asia.

According to market research, the global predictive maintenance sector is set to grow from $7.5 billion in 2023 to $88.8 billion by 2032, reflecting a compound annual growth rate of 31.6%. 

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