Industrial IoT company Infinite Uptime on Thursday raised $5.15 mn in funding led by VenturEast, where participation was seen from THK and other existing investors, Mayfield, GSR Ventures, IIML, and GiTV.
Infinite Uptime offers predictive maintenance and condition-based monitoring solutions for process and manufacturing companies. It specialises in high-frequency data analytics to diagnose faults and recommend timely corrections remotely. They have over 200 customers including Daikin, Crompton Greaves, Siemens, RSB Transmissions, THK, JSW, Reitz, TVS Motors, and Tata Steel.
The fresh funds will be used to deepen its presence in Asia, and scale up its operations in the Middle East, US and Europe & to make its technology available at scale, and invest heavily in research and development (R&D) to further enhance its diagnostic solution.