Infinite Uptime, a company specializing in predictive maintenance solutions for industrial machinery, has secured $18.85 million in funding through its Series B3 round. The round, led by Tiger Global, included participation from existing investors GSR Ventures, VenturEast, Mayfield, and THK. Additionally, Infinite Uptime is supported by KOIS, an innovative impact investor based in Belgium.
In a press release, Infinite Uptime stated that the newly secured funding will empower the company to enhance its global market presence and significantly amplify the value and quality of its services across various industry sectors, as per reported by Entrackr.
The Pune-based startup has an impressive list of clients, which includes renowned names such as Vedanta Group, JSW Group, Tata Group, THK, Schlumberger, Marubeni Group, Ceat Tyres, Aditya Birla Group, and Coca-Cola.
In 2023, Tiger Global made its initial investment in a new Indian startup, marking its first venture into the country. Before this, the New York-based investor had already invested in PhonePe, one of its portfolio companies, back in February of the same year.
Beginning in 2022, the venture capital firm has been reducing its involvement in significant deals and was absent from the investment scene during January, March, and April of the current year. However, there have been reports indicating that the firm is engaged in discussions to invest $40 million in the Indian Premier League (IPL) franchise Rajasthan Royals, with a valuation set at $650 million.