YourNest leads seed round in heavy industries-focused UptimeAI
Summary
UptimeAI, an artificial intelligence-based predictive maintenance software provider for companies in heavy industries, has raised $1.5 million (around Rs 11 crore) in a seed funding round. The company says it operates offices in Bengaluru and San Francisco, and that its core team has subject matter expertise in areas such as power, oil and gas, and chemicals. Companies using this frontier technology across sectors have attracted investor interest over the past couple of years, with this trend accelerating in the pandemic. Similarly this month, Agara, which develops AI-based autonomous voice agents focused on enterprises, raised $4.3 million (around Rs 31.4 crore) in a pre-Series A extension funding round. Other startups utilising AI as a core differentiator that have raised funding in recent months include AlphaICs, LOGIQ, Tredence and Trinity Mobility.