UptimeAI has raised $1.5 mn in a seed round led by YourNest Venture Capital, an early-stage fund focused on the deep-tech and enterprise segments. There were many other eminent investors, UptimeAI said in a statement, without disclosing their identities.
UptimeAI specialises in AI-based predictive maintenance software for heavy industries. According to the company statement, the startup will use the capital raised in this seed round to scale its technology infrastructure as well as expand its presence in several international markets.
“Customers are tired of spending millions, getting stuck in endless pilots and waiting for years to get a return on investment. At UptimeAI, we enable rapid deployment and ROI with built-in failure modes, patent-pending AI for manufacturing and self-learning workflows, that offer up to 10x reduction in alarms, manual effort and time to act,” added Vamsi Yalamanchili, CTO and Co-founder, UptimeAI.