UptimeAI has secured $1.5 million in the latest funding round. The seed round was led by YourNest Venture Capital along with other angel investors.
Vamsi Yalamanchili, CTO and Co-founder of UptimeAI, said, “Customers are tired of spending millions, getting stuck in endless pilots and waiting for years to get a return on investment. At UptimeAI, we enable rapid deployment and ROI with built-in failure modes, patent-pending AI for manufacturing and self-learning workflows, that offer up to 10x reduction in alarms, manual effort and time to act.”
“In UptimeAI, we found a startup that is developing a comprehensive and purpose-built AI solution for manufacturing based on a deep understanding of operational challenges. Further, the combination of AI with their robust domain expertise puts them in a league of their own and we are excited to enable their journey ahead,” added Vivek Mansingh, General Partner, YourNest Venture Capital.
CEO and Founder of UptimeAI – Jagadish Gattu said, “As manufacturers are challenged with margin pressures, retirement of industry experts and remote operations, UptimeAI enables operational excellence by bringing human-like intelligence at scale to process billions of data points and give precise answers. We are happy to have found a shared vision for this with YourNest Venture Capital, and look forward to working together to scale and take the UptimeAI value across the US, Europe, and the Middle East.”
The Bengaluru and California-based company plans to utilise the funds raised to boost its technology and for international expansion.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.