YourNest Venture Capital is a SEBI-registered early-stage venture capital fund that invests in deep technology, ‘Pre-Series A’ Start-Ups. Its first fund, YourNest Angel Fund which was established in 2012, has raised INR 90 cr. Fund I is fully deployed and has invested in 16 startups. Its second fund, YourNest India VC Fund II was launched in 2016. It is raising a corpus of INR 450 cr. The fund invests in the new, connected economy and Deep-Tech start-ups represented by the Internet of Things (IoT), Robotics, Electronic System Design, Enterprise SaaS comprising Artificial Intelligence, Machine Learning, Blockchain, among others, with start-ups having a B2B business model being the prime focus. YourNest believes in being a ‘Nurture Capital’ where its team of partners work as ‘enablers’ for investee companies in diverse fields across technology, marketing, global reach and leadership development.

YourNest Venture Capital

Emergent Ventures is a venture firm that invests in seed-stage software and AI startups. Emergent partners early with high-potential entrepreneurs and helps them find product-market fit and develop go-to-market. The firm focuses on the Intelligent Software space, which includes themes such as Enterprise Automation, Intelligent Voice and Video, Logistics-tech, DevOps/Developer Tools, Finance-tech, and Cloud Management

Emergent Ventures

Venture Catalysts is an integrated incubator that offers funding, mentorship, and network. It provides investment of $500K to $2MN per startup with incubation support for 18-24 months. It was established in year 2016 and in a short span, it boasts of successful incubatees like BharatPe, Fynd, Beardo, PeeSafe, Innov8, vPhrase, SuprDaily, DSYH, IGP.com etc., which are today category leaders. It is one of the largest early stage players in India with 4500+ angel investors spread across 36 cities in 6 countries - India, Hong Kong, Singapore, UAE, Saudi Arabia & USA.  Globally, marquee investors such as YCombinator, Greenoaks, Axis Capital, Alpha Capital, Rocketship, FJ Labs (investors of Airbnb, Uber, Facebook) have co-invested with Venture Catalysts. With its focus on developing startup ecosystem in Tier II, III cities in India, Venture Catalysts has launched its incubation program in cities like Ahmedabad, Lucknow, Raipur, Surat and Nagpur besides metros like Delhi, Mumbai, Bangalore and Kolkata. These centres not only offer incubation support to startups but also organise regular investor education sessions for potential angel investors viz. HNIs & industrialists. Besides raising seed stage and Series A investments for startups, Venture Catalysts is known for its startup building capability, strategic guidance, generating business leads, leveraging its network across the globe through its partners and providing phenomenal returns to its investors. It is evident from the fact that more than 10 incubatee companies of Venture Catalysts have raised Series A investment in the last two years especially when the market had not been very upbeat. Today, Venture Catalysts has taken the leadership position in startup investments and incubation and has been rated as India's top Early stage Investor by leading national media.

Venture Catalysts

AISprouts

WestBridge Capital is an investment firm that focuses on technology, business, media, communication, and financial sectors. The firm invests in financial, technology, telecom, logistics, life sciences, aviation, energy, utility, and manufacturing companies. It seeks to partner with some of India's most promising mid-sized companies run by outstanding entrepreneurs and management teams for the long-term, whether they are public or private. WestBridge Capital leverages both its capital and experience to help companies succeed. The company was founded in 2000 by KP Balaraj, Sumir Chadha, SK Jain, and Sandeep Singhal and has offices in Mauritius, California, and Bangalore.

Westbridge Capital

Aditya Birla Ventures is a Venture Capital arm of Aditya Birla Group that backs new-age, high-growth businesses having the potential to emerge as industry leaders, led by exceptional founding teams.

Aditya Birla Ventures

UptimeAI

UptimeAI combines Artificial Intelligence and industry expertise to predict, diagnose and provide prescriptive solutions for manufacturing operations. The company leverages its industry knowledge and AI capabilities to help manufacturing companies eliminate surprises and run their operations efficiently.

UptimeAI offers a virtual AI assistant software for improving plant and asset performance. The solution integrates subject matter knowledge from over 200 years of cumulative experience to explain interrelations across equipment, identify problems, and make prescriptive diagnoses at scale. It provides no-code predictive alerts, an inference engine for prescriptive actions, and continuous self-learning to enable operators to detect the reasons for machine downtime and propose mitigation measures.&nbsp;

Using data and automation to achieve 24/7 production.

Smart Factory

UptimeAI Raises $14M in Series A Funding

UptimeAI offers a virtual AI assistant software for improving plant and asset performance. The solution integrates subject matter knowledge from over 200 years of cumulative experience to explain interrelations across equipment, identify problems, and make prescriptive diagnoses at scale. It provides no-code predictive alerts, an inference engine for prescriptive actions, and continuous self-learning to enable operators to detect the reasons for machine downtime and propose mitigation measures.&nbsp;Key customers and partnershipsAs of July 2024, the company had served Fortune 500 companies in various industries, including power generation, oil and gas, chemicals, cement, and metals, across Asia, the Middle East, and North America. Some key customers are Ultratech Cement, OCI Global, Shell Global, and Prayagraj Power Generation Company Limited (PPGCL).&nbsp;In September 2023, the company collaborated with Bharat Petroleum Corporation Limited (BPCL) to enable it to enhance operational efficiency and sustainability at its Kochi refinery via AI Expert's predictive analytics capabilities.

<div>
 
 SparkCognition is an AI analytics startup offering four deep learning product solutions: Darwin (automated model-building software), DeepArmor (AI-powered cybersecurity), DeepNLP (NLP solution), and SparkPredict (analytics solution utilizing sensor data). These products deliver actionable insights, predict machine issues via historical maintenance data, and provide security from cyber threats. These products can be deployed across multiple industries, such as manufacturing, defense, utilities, oil and gas, and aviation. 
 
 
 SparkCognition&rsquo;s clientele comprises large companies such as Boeing, Hitachi, and British Petroleum. It has also built partnerships with Google for cloud platform services, Hewlett-Packard Enterprise to offer AI predictive maintenance on HPE Edgeline Converged Edge Systems, and OSIsoft to integrate SparkCognition&rsquo;s machine learning technology with OSIsoft&rsquo;s PI system to improve data and process data analytics.
 
 
 The company&rsquo;s most recent funding round was Series D funding worth USD 123 million in January 2022 from March Capital, Doha Venture Capital, B. Riley Venture Capital, AEI Horizon X, Temasek, and several others. The funds were intended to be used to invest in R&amp;D, accelerate sales and marketing, facilitate organic and inorganic growth, and also for the working capital requirements of the company. In March 2022, the company acquired Indian visual AI startup 
 <a href="https://sp-edge.com/updates/9370?industryIds=6">
 Integration Wizards
 </a>
 to expand its intellectual property (IP) portfolio to improve vision capabilities. The company has reported a 2x increase in revenue YoY in 2021.
 
</div>

SparkCognition

Kinta AI provides an automated production planning platform for manufacturing that uses advanced AI algorithms and simulation techniques. Using existing operational data, a SaaS solution is deployed that can be integrated with existing management execution systems (MES), enterprise resource planning (ERP), and Industry 4.0 tools in the factory. The software looks to have cross-functional communication across the factory to eliminate any bottlenecks that delay resolving breakdowns. Kinta AI has partnered with Flex (an electronics manufacturer) and BASF (a chemical company).Kinta AI’s most recent financing was a Series A funding round worth USD 5.5 million in April 2021 led by Lachy Groom’s LGF and Shine Capital. The funds will be utilized to scale operations in existing general industrial client factories and implement the Kinta AI platform in new client factories.

Kinta AI

<div>
 
 Sight Machine provides a digital manufacturing platform enabled by AI. It creates a digital twin of both assets and processes to help manufacturers improve processes, quality, and productivity. It can also gather data from machines of various manufacturers supplying actionable insights for predictive maintenance, quality improvement, capacity utilization, among other benefits. In October 2022, the company released 
 <a href="https://sp-edge.com/updates/13696?industryIds=6">
 Sight Machine Blueprint
 </a>
 to offer manufacturers with advanced data analytics solutions.
 
 
 Sight Machine has established partnerships with large global companies such as Microsoft, Google, and Amazon Web Services (AWS) for their cloud platforms and Fujitsu (system integrator) to help with wide deployments. Sight Machine, which caters to at least 15 verticals, such as food and beverage, electronics, and automotive, is on the move to expand into more verticals. It has global clients of Fortune 500-caliber, including Nissan, Heineken, Westrock Co., and Asian Paints. Sight Machine&rsquo;s most recent funding round was Series C funding worth USD 29.4 million in April 2019, led by LS Group. The funds were to be used to expedite the company&rsquo;s growth.
 
 
 Funding and financials
 
 
 In December 2023, 
 <a href="https://sp-edge.com/updates/25200">
 Sight Machine received a low double-digit million euro investmen
 </a>
 t from TeamViewer to improve industrial digitalization and enhance manufacturing efficiency.
 
 
 
</div>

Sight Machine

Overview uses smart cameras and AI to monitor manufacturing equipment and robots and identify defects in real time before significant damage or downtime is incurred. The technology has a repository of machine data so that there is a traceable visual record of all units. With AI, the cause of production issues and quality concerns can be identified either on-site or remotely. The company claims over time, the deep learning computer vision algorithms allow for any sudden substantial increases in production and improved yields. Funding and financialsIn February 2022, the company raised USD 10 million in series A funding to be used to expand operations and business reach.

Overview

Bright Machines combines robotics, machine learning, and computer vision to provide automation applications for the electronics manufacturing industry. Its flagship product is the “Bright Machines Microfactory,” a pre-integrated, programmable assembly line that can be deployed in existing and new production facilities. The Microfactory runs on the company's proprietary “Brightware” cloud-based software platform, offering a scalable solution that enables manufacturers to enhance supply chain resilience and adapt production capacity according to market demand. This software-defined manufacturing allows factories to change the products that they manufacture if needed. The company offers its service on a subscription-based microfactory-as-a-service (MaaS) business model.The company reportedly generated USD 83 million in revenue in 2021. In May 2021, Bright Machines reported that its revenue doubled each year since its inception (2018) and forecasts a 5-year CAGR (2020-2025) of over 84%.&nbsp;Key customers and partnershipsBright Machines served over 40 manufacturing companies as of October 2022.The company collaborated with Microsoft Azure in May 2024 to leverage the latter’s infrastructure to deliver a full-stack environment for all stages of the manufacturing lifecycle.The company also has distribution/sales partnerships with Anstar Corporation (April 2021), SMT Capital (April 2021), MaRC Technologies (May 2021), PAC Global (May 2021), Restronics (June 2021), <a href="https://sp-edge.com/updates/3618">BROCK Electronics</a> (June 2021), <a href="https://sp-edge.com/updates/4740">Murray Percival</a> (July 2021), <a href="https://sp-edge.com/updates/4412">Competitive Edge Manufacturing Equipment</a> (CEME; July 2021).Key competitors: None comparable (Bright Machines is the only company in the smart factory industry that offers microfactories-as-a-service, which combines intelligent software with adaptive hardware to automate manufacturing processes.)

Bright Machines

Companies that provide robotic fleet management software, robotic automation software, and inspection software.

Companies that provide an industrial IoT platform across factories as the primary offering.

Companies that provide cobots, sorting/ picking robotics, modular production robotics, and microfactories.

Companies that focus on data analytics for operations streamlining and process optimization, and may offer predictive maintenance.

Companies that provide autonomous mobile robots (AMR) or self-driving vehicles (SDV) used in manufacturing/ factory operations.

Companies that monitor the manufacturing equipment and assembly lines.

Companies that provide predictive maintenance as a primary offering. 

Creates digital twins of assets and processes to help manufacturers improve processes, quality, and productivity

Connected devices, sensors, IoT, and analytics are used to optimize factory operations

Uses advanced robotics, AMRs, and related software to improve the efficiency of factory operations

Uses connected devices and sensors to gather data—IIoT, predictive analysis, and equipment inspection

Uses AI/ML to analyze data for predictive maintenance and AI-based vision systems for line inspections

5G standard allows for faster reaction times and supports high connection densities

Uses edge computing for data processing at the edge

Some companies in the predictive maintenance space uses generative AI to generate possible alternative scenarios

ANALYST_QUICK_TAKE

<div>
 UptimeAI, an industrial analytics platform that leverages AI technology, has successfully raised USD 14 million in a Series A funding round. The round was spearheaded by WestBridge Capital and also saw contributions from both Emergent Ventures and Aditya Birla Ventures.
 With the fresh capital, UptimeAI intends to scale its existing platform, broaden its product range, and enhance its operational footprint in North America, the Middle East, and Asia.
 The company's distinctive offering is a virtual AI assistant software specifically designed for improving performance of plants and assets. The software effectively captures and applies over 200 years of accumulated subject matter knowledge to analyze interrelations across various equipment, detect potential issues and provide detailed, prescriptive diagnoses on a large scale. Additionally, it features no-code predictive alerts, an inference engine for prescribing corrective actions, and a continuous self-learning mechanism which empowers operators to determine the causes for machine downtime and propose appropriate preventive steps.
</div> Analyst QuickTake: 
 The predictive maintenance segment has seen a recent uptick in investor interest with many AI-powered solutions raising funding over the last few months. UptimeAI joins the likes of <a href="https: 
//sp-edge.com/companies/1841918"> EthonAI </a> , <a href="https: 
//sp-edge.com/companies/297699"> Oden technologies </a> , <a href="https: 
//sp-edge.com/companies/3572793"> Mavarick </a> , <a href="https: 
//sp-edge.com/companies/2598854"> Deltia </a> , and <a href="https: 
//sp-edge.com/companies/825840"> RoboVision </a> , which raised funding rounds of <a href="https: 
//sp-edge.com/updates/29910"> ~USD 16.5&nbsp; million </a> , <a href="https: 
//sp-edge.com/updates/28458"> USD 28.5 million </a> , <a href="https: 
//sp-edge.com/updates/29263"> ~USD 1.4 million </a> , <a href="https: 
//sp-edge.com/updates/28900"> ~USD 4.8 million </a> , and <a href="https: 
//sp-edge.com/updates/27996"> USD 42 million </a> , respectively. UptimeAI aims to differentiate itself by offering its predictive maintenance solution in the form of an AI assistant that features self-learning as well as an inference engine for prescriptive actions.

UptimeAI

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