Infinite availability timeAn Indian startup that offers predictive maintenance solutions for factories, has raised $ 35 million in a series C financing to extend its footprint to the United States and other markets.
The manufacturing industry has lagged behind many industries in its adoption of technology, and a large part of the heavy industry in the world still depends on machines, many of which age and consume a lot of energy. That said, modern technology slowly but surely makes its way in factories, in particular for maintenance and repairs – the infinite availability time of space is targeted.
The company says it provides predictive maintenance and repair recommendations using proprietary sensors, software analyzes and AI diagnoses. It also has an intelligent dashboard that offers live surveillance capacities.
“We give manufacturers identified recommendations and intervention points, exactly what must be done in the factory, what parameters should be examined, which asset must be corrected,” the founder of Infinite Uptime Raunak Bhingench told Techcrunch.
The startup indicates that its piezoelectric sensors can provide diagnostics at high temperatures as well as complex acid environments such as phosphoric acid, nitric acid and sulfuric acids. He obtained about five patents in this space, said Bhinge.
To be clear, this is not an entirely new opportunity on the market – large manufacturers like Rockwell, Siemens and Honeywell allowed factories with AI automation for a while. Likewise, some startups such as AUGLURY assistance factories detect problems with their machines using sensors and AI.
But Bhinge believes that infinite availability is “quite unique in terms of technological battery”, explaining that the startup approach is not top to bottom, like its largest competitors who use programmable logical controllers (PLC) or programmable limit switches (PLS). He argued that even the battery -based microelectromic (MEMS) systems that some startups offer have limited use cases and do not actually work for high -temperature applications.
Infinitis of availability targets manufacturers in the steel, cement, metals, mines, fertilizers, chemicals and paper industries. He also joins OEMs to connect his AI layer to their new products.
Cumulatively, infinite availability claims that its solutions have helped customers see stop savings of 74,274 hours as well as 5% to 10% of improvement in productivity, energy efficiency, safety and compliance.
The startup currently serves 800 factories in nearly 30 countries, and with new funding, it aims to further extend its presence in the United States. The C series was led by Avataar Ventures and saw the participation of Stepstone Group and LGVP, as well as the existing investors Tiger Global and GSR Ventures. The round has been the total capital of the company lifted at around $ 65 million since its creation in 2015, by Crunchbase.
Bhinge said that the startup’s revenues have increased twice a year in the past three years, and that it is positive in cash. The company seeks to put fresh money in the development of products and intends to assess the possibilities of mergers and acquisitions to evolve more.
Infinitis of availability, which has around 350 employees, also plans to invest more in R&D and data science to improve its IA ideas and “further fill the gap between construction capacity and actual production and also improve production efficiency,” said Bhinge.
“We invest in the way we can help manufacturers […] Use less energy per tonne of production of their existing construction capacity, “he said.
