BENGALURU, India, December 16, 2022 UptimeAI, a leading supplier of AI-based digital transformation solutions for the energy, chemicals, and heavy industries, has secured USD 3.5 million in venture capital headed by Emergent Ventures. Existing investor YourNest Venture Capital joins the round, as do new investors Sharad Sanghi, AI Sprouts, and Venture Catalysts. UptimeAI intends to use the funds to expand in the United States in order to better serve its increasing client base.
UptimeAI, founded by Jagadish Gattu and Vamsi Yalamanchili, provides AI-based virtual assistant software that delivers human-like learning and diagnosis using unique self-learning workflows and system models. The software helps operators to increase dependability, performance, and energy efficiency with minimal effort. As a consequence, traditional predictive analytics and asset performance management systems achieve 10X ROI increases. Over the last 1.5 years, UptimeAI has implemented its solution for Fortune 500 organizations in Power Generation, Renewables, Oil & Gas, Chemicals, LNG, and Cement spanning Asia, ME, and North America.
Jagadish Gattu, CEO of UptimeAI:
“Traditional digital solutions give KPIs, dashboards, and data analysis tools, but troubleshooting, building, and maintaining data science models takes weeks of human labor. Instead of endless pilots, operations and remote monitoring teams are searching for artificial intelligence that diagnoses the cause of losses, recommends mitigation, and learns like a pro. By unifying point solutions and merging cutting-edge AI innovation with 200 years of SME (Subject Matter Expert) expertise, UptimeAI achieves just that.”
Executive Director & Fund Manager, YourNest Venture Capital, Girish Shivani:
“We identified a firm in UptimeAI that is building a complete and purpose-built AI solution for manufacturing based on a thorough understanding of operational difficulties. Furthermore, the combination of AI and their deep domain experience puts them in a class of their own, and we are delighted to support them on their path forward.”
“There was a period when fresh graduates would join heavy industrial firms and labor there until they retired. These businesses now compete for talent with digital-first businesses, and maintaining talent is difficult. “This industry is in flux,” stated Ankur Jain, Partner at Emergent Ventures. “UptimeAI helps these businesses to apply AI-led automation and positions them to capitalize on current technology.”
UptimeAI is a startup that provides virtual AI assistant software for enhancing plant and asset efficiency. UptimeAI’s ‘AI Expert’ blends artificial intelligence with subject matter expertise gleaned from 200+ years of combined experience to explain interrelationships between upstream and downstream equipment, diagnose faults, and provide prescriptive diagnosis at scale. To ensure high availability, enhance efficiency, and reduce unexpected downtime, AI Expert continually learns while delivering prescriptive measures. Several Fortune 500 companies are among the company’s clients.
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