TDK backs India smart factory start-up
TDK Ventures has invested an undisclosed sum in India’s Infinite Uptime in an apparent extension of a Series B round that has raised more than USD 24m to date.
It follows a USD 18.8m investment in May, billed as the third tranche of the Series B. That round featured GSR Ventures, Tiger Global Management, Mayfield India, and VenturEast.
An initial Series B investment came in December 2020, featuring GSR, Mayfield, and VenturEast supported by IL&FS Investment Managers. Other investors in the round included Global IoT Technology Ventures, an industrials-focused fund set up by Japanese corporates THK and Broadband Tower.
Infinite Uptime provides technology that provides real-time fault diagnostics and reliability monitoring for key mechanical equipment in an integrated, smart software platform. It uses frequency analysis of vibrations, monitored by sensors integrated into essential machinery to predict failures.
The offering is marketed as diagnostics-as-a-service (DaaS) to reduce mechanical downtime at industrial facilities. It is said to enable 24-hour equipment monitoring and fault notification, while advising prescriptive interventions. The idea is that the digitalization of industrial processes will increasingly require digital monitoring.
“Infinite Uptime stands at the forefront of the Industry 5.0 revolution, tackling critical challenges in industrial automation and efficiency,” Nicolas Sauvage, president of TDK Ventures, said in a statement. “Their digital intelligence platform holds the potential to transform how industries operate, paving the way for a more sustainable and efficient future.”
TDK Ventures was set up in 2019 by Japanese electronics giant TDK Corporation as a US-based investment unit targeting early-stage start-ups globally with a debut fund of USD 50m. There is a strong focus on materials, industrials, and hardware-oriented technologies. A second fund seeking outside capital was launched in May targeting USD 150m specifically for cleantech.
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