UptimeAI, an AI-based plant monitoring software platform for industrial businesses, announced it has raised $14 million in Series A funding to boost its North American operations. WestBridge Capital led the round, with participation from Emergent Ventures and Aditya Birla Ventures. This funding will accelerate UptimeAI’s mission to revolutionize U.S. industrial plant monitoring and maintenance with advanced AI technology, following a stellar 400% growth last year.
Global manufacturing leaders are utilizing AI to achieve more than basic pattern recognition and predictive analytics. And they seek intelligent applications that can automatically identify root causes, extract best practices, and drive continuous improvement.
UptimeAI’s solutions deliver a 10-15X ROI within 9 months, requiring minimal site team involvement. Its patented system model design approach eliminates the need for continuous AI model training by data scientists. So 9 out of 10 customers have already scaled the UptimeAI solution across all sites within a 12-month period. And this resulted in significant savings in energy and maintenance costs, which in turn have driven a positive IRR for industrial plants.
This latest funding round will significantly support UptimeAI’s rapid expansion plans across North America and will help position the company as the market leader in boosting efficiency and reliability in U.S. manufacturing and processing sectors.
Launched in 2019 by Jagadish Gattu and Vamsi Yalamanchili, UptimeAI secured $3.5 million in seed funding in December 2022. The company empowers manufacturing leaders to achieve peak capacity utilization and drive AI-enabled operational excellence across all sites.
KEY QUOTES:
“UptimeAI offers an enterprise-grade, AI-enabled Operational Excellence platform, which has achieved a 100% success rate in improving the profitability of process and manufacturing operations across six industries. This funding will enable UptimeAI to further assist large industrial enterprises to succeed in their digital transformation journey by optimizing their reliability, process efficiency, and maintenance cost.”
- Rishit Desai, Partner at WestBridge Capital
“Our vision is to embed the expertise of a seasoned Subject Matter Expert (SME) into a self-learning AI solution, making this invaluable knowledge accessible to every engineer aiming for operational excellence. With 90% of our revenues already generated from the US and Middle East markets, and with our current profitability, this new funding validates our go-to-market and product strategy. It will further enable us to expand our AI Expert OEx platform offerings in these key regions.”
- Jagadish Gattu, CEO, UptimeAI
“AI-enabled operational efficiency solutions can significantly impact industries. UptimeAI, with deep domain expertise is demonstrating strong ROI impact across large enterprise clients in US and India with its AI solutions. We have strong belief in the capabilities of the founding team and the investment is in line with our vision to back outstanding founding teams, building businesses of tomorrow. Our endeavor is to open up ABG’s global ecosystem and network for the growth of our portfolio companies.”
- Aryaman Vikram Birla, Founder, Aditya Birla Ventures
