Following a stellar 400% growth in FY2023, the new capital infusion will help accelerate expansion in North America and MENA Markets in 2024

UptimeAI has successfully secured $14 million in Series A funding, a round led by WestBridge Capital, with participation from existing investor Emergent Ventures, who previously led UptimeAI’s seed round, and new investor Aditya Birla Ventures. This capital infusion will propel UptimeAI’s growth across North America, the Middle East, and Asia by facilitating the widespread adoption of its cutting-edge Operational Excellence solutions.

“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 assist large industrial enterprises further to succeed in their digital transformation journey by optimizing their reliability, process efficiency, and maintenance cost.” stated Rishit Desai, Partner at WestBridge Capital.

“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 endeavour is to open up ABG’s global ecosystem and network for the growth of our portfolio companies.” – Aryaman Vikram Birla, Founder, Aditya Birla Ventures

The global AI market for heavy industries is projected to grow from $10.6 billion in 2024 to $47.8 billion in 2029 at a CAGR of 35.1%. Global manufacturing leaders increasingly leverage AI to achieve more than basic pattern recognition and predictive analytics. They seek intelligent applications that can automatically identify root causes, extract best practices, and drive continuous improvement. However, assessments by Forbes, McKinsey, and other industry bodies indicate a failure rate of 70-95% for such digital initiatives with Predictive Maintenance ( PdM ) solutions, compelling enterprises to develop their own scalable AI solutions.

UptimeAI addresses this challenge with its innovative Operational Excellence solutions, delivering a 10-15X ROI within nine months with minimal site team involvement of just two days. Its patented system model design approach eliminates the need for data scientists to train AI models continuously. Consequently, nine out of ten UptimeAI customers have scaled the solution across all sites within 12 months, achieving significant energy and maintenance cost savings and driving a positive IRR for industrial plants.

“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.”  said Jagadish Gattu, CEO, UptimeAI

Established in 2019 by Jagadish Gattu and Vamsi Yalamanchili, UptimeAI had secured a $3.5 million seed funding in December 2022. Jagadish Gattu brings to the table over two decades of industrial analytics experience from MathWorks and GE. Vamsi Yalamanchili, on the other hand, founded inResto, which was later acquired by Times Internet’s Dineout in 2015, adding substantial entrepreneurial experience to the team.

About UptimeAI:

UptimeAI is a San Francisco-based technology provider offering operational excellence capabilities via its AI Expert OEx platform. The company supports firms in the chemical, oil and gas, and utility sectors, helping them understand the relationships between asset performance and process anomalies to drive operational excellence. Many global industrial customers have implemented UptimeAI’s solutions across North America, the Middle East, and India.

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