Key Takeaways
- • Tiger Global leads $18.5 million Series B3 funding round in Infinite Uptime, marking the hedge fund's second India investment in 2023 following its PhonePe backing.
- • Infinite Uptime provides predictive maintenance and remote monitoring solutions for industrial machinery, serving over 300 global customers including Vedanta Group, JSW Group, Tata Group, Schlumberger, and Coca-Cola.
- • Co-investors in the round include existing backers GSR Ventures, VenturEast, Mayfield, and Belgium-based impact investor KOIS, signaling continued institutional confidence in the industrial IoT platform.
- • Funding will support product development, global market expansion, and capability enhancement across industrial segments, according to founder and CEO Raunak Bhinge.
Summary
Tiger Global Management has completed its second India investment of 2023 by leading an $18.5 million Series B3 funding round in Infinite Uptime, an industrial IoT platform specializing in predictive maintenance for machinery. The investment demonstrates continued appetite from global technology investors in India-focused industrial software solutions, particularly following Tiger Global's earlier 2023 backing of fintech unicorn PhonePe.
Infinite Uptime operates a technology platform that remotely monitors industrial machinery to detect potential failures before they occur and recommends preventative solutions. The company reports a substantial customer base exceeding 300 entities globally, spanning multinational conglomerates and industrial leaders including Vedanta Group, JSW Group, Tata Group, Schlumberger, Marubeni Group, THK, CEAT Tyres, Aditya Birla Group, and Coca-Cola. This customer roster underscores the platform's traction across diversified industrial verticals and geographies.
The funding round attracted participation from Infinite Uptime's existing investor base, including GSR Ventures, VenturEast, and Mayfield, alongside Belgium-based innovative impact investor KOIS. The continued participation of established venture investors signals confidence in the company's execution and market opportunity. According to founder and CEO Raunak Bhinge, the capital will enable the company to accelerate fundamental research and product development, expand technical capabilities, and enhance service delivery across industrial segments in an evolving market landscape.
The investment reflects broader institutional interest in industrial automation and predictive maintenance technologies, which address critical pain points for manufacturing and heavy industrial operations globally. Tiger Global's involvement underscores the hedge fund's continued focus on identifying high-growth technology platforms serving enterprise and industrial markets, despite a broader contraction in venture capital activity during 2023.
Infinite Uptime operates a technology platform that remotely monitors industrial machinery to detect potential failures before they occur and recommends preventative solutions. The company reports a substantial customer base exceeding 300 entities globally, spanning multinational conglomerates and industrial leaders including Vedanta Group, JSW Group, Tata Group, Schlumberger, Marubeni Group, THK, CEAT Tyres, Aditya Birla Group, and Coca-Cola. This customer roster underscores the platform's traction across diversified industrial verticals and geographies.
The funding round attracted participation from Infinite Uptime's existing investor base, including GSR Ventures, VenturEast, and Mayfield, alongside Belgium-based innovative impact investor KOIS. The continued participation of established venture investors signals confidence in the company's execution and market opportunity. According to founder and CEO Raunak Bhinge, the capital will enable the company to accelerate fundamental research and product development, expand technical capabilities, and enhance service delivery across industrial segments in an evolving market landscape.
The investment reflects broader institutional interest in industrial automation and predictive maintenance technologies, which address critical pain points for manufacturing and heavy industrial operations globally. Tiger Global's involvement underscores the hedge fund's continued focus on identifying high-growth technology platforms serving enterprise and industrial markets, despite a broader contraction in venture capital activity during 2023.
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