Infinite time of the actThe Indian startup, which offers predictive maintenance solutions for factories, collected $ 35 million in the C series financing round to expand its trace on the US and other markets.
The production industry was delayed by many industries in the adoption of technology, and most of the world’s heavy industry still depends on the machines, many of which are getting old and consumes a lot of energy. After saying, modern technology slowly, but definitely enters the factories, especially for maintenance and repair – the Infinite Uptime space is targeted.
The company claims that it provides predictive recommendations for maintenance and repair using reserved sensors, software evaluation and diagnostics based on artificial intelligence. It also has an intelligent navigation desktop that gives live monitoring.
“We give manufacturers the indicated recommendations and intervention points, exactly what should be done in the plant, what parameters should be looked at, which resources should be improved,” said Techcrunch, founder of Infinite Uptime, Raunak Bhingo.
The startup claims that its piezoelectric sensors can offer diagnostics at high temperatures, in addition to complex acid environments equivalent to phosphoric acid, nitric acid and sulfuric acid plants. (*35*) said he had secured about five patents in this space.
To make it clear, this is not a completely latest opportunity on the market-producers equivalent to Rockwell, Siemens and Honeywell, for some time enabled factories with automation based on artificial intelligence. Similarly, some startups, equivalent to Augury, help factories detect problems with their machines using sensors and artificial intelligence.
But Bakinge believes that the infinite working time is “quite unique in terms of technological stack”, explaining that the startup approach is not top -down, similar to his larger competitors, who use programmable logical controllers (PLC) or programmable limit switches (PLS). He claimed that even microelectromechanical systems based on batteries (MEMS), which provide some startups, have limited use cases and effectively do not work in extreme temperature applications.
Infinite UPTIME purposes of producers in steel, cement, metals, extraction, fertilizers, chemicals and paper industries. He also works with OEM to connect the AI layer to its latest products.
Sumpting, Infinite Uptime claims that his solutions have helped customers see downtime savings of 74 274 hours, in addition to from 5% to 10% improvement in efficiency, energy efficiency, safety and compliance.
The startup currently supports 800 plants in almost 30 countries, and thanks to latest financing it goals to further expand its presence in the USA. The C series was led by Avataar Ventures and participation in the Stepstone Group and LGVP was recorded, in addition to existing investors Tiger Global and GSR Ventures. The round is the total capital of the company has collected about $ 65 million from its creation in 2015. Crunchbase.
Bakinge said that the startup revenues have increased by 2 times a yr over the last three years and is positive surgically money flow. The company wants to put fresh money on product development and intends to assess the possibility of further scaling of the fusion and acquisitions.
Infinite Uptime, which has about 350 employees, also plans to invest more in research and data development and learning to improve their AI observations and “further reduce the gap between the building ability and actual production, as well as improve production efficiency,” (*35*) said.
“We invest in the way we can help producers […] Use less energy for a ton of production from existing building skills, “he said.