WestBridge Capital Leads USD 14 Mn Funding Round for UptimeAI Expansion The firm will use the proceeds to scale up its tech platform and expand its product portfolio and presence in North America, the Middle East, and Asia.
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Artificial intelligence startup UptimeAI has announced the raising of USD 14 million in its Series A funding round led by WestBridge Capital. Existing investor Emergent Ventures and new investor Aditya Birla Ventures also participated in the round.
The company raised USD 3.5 million in seed funding in December 2022.
The San Francisco-based firm will use the proceeds to scale up its tech platform and expand its product portfolio and presence in North America, the Middle East, and Asia.
"Our vision is to embed the expertise of a seasoned subject matter expert into a self-learning AI solution. With 90% of our revenues from the US and Middle East markets, this funding validates our go-to-market and product strategy and enhances our offering significantly," said Jagadish Gattu, CEO of UptimeAI.
Founded in 2019 by Jagadish Gattu and Vamsi Yalamanchili, UptimeAI provides AI-driven manufacturing solutions to companies spanning across the chemical, oil and gas, and utility sectors.
"Our AI solution not only predicts equipment failures before they occur but also identifies inefficiencies and suggests optimizations to improve performance. This approach significantly reduces any unplanned downtime, ultimately enhancing operational reliability and efficiencies and paving the way for a smarter, more resilient future," Gattu added.
UptimeAI was one of the selected startups in the YourNest SOAR Program.
The company claims that its solutions deliver a 10-15x return on investment within nine months, with minimal involvement from on-site teams. Utilising a patented system model design, their approach eliminates the need for ongoing AI model training by data scientists.
According to the company, as a result, the majority of clients deployed the solution throughout all sites in less than a year, saving a significant amount of money on energy and maintenance.
"The platform has a 100% success rate in improving profitability. This investment will help larger industrial enterprises optimise their reliability, process efficiency, and maintenance costs," said Rishit Desai, Partner at WestBridge Capital.
