Presage Insights, an innovative provider of IoT and AI-driven predictive maintenance solutions, has successfully raised Rs 5.6 crore in a seed funding round, led by YourNest Venture Capital. The funding is part of the YourNest-SanchiConnect Velocity Program 2024 and marks a significant milestone in the company’s growth trajectory.
The freshly raised capital will be used to scale operations, boost market penetration, and fast-track innovation in its offerings, according to a press release issued by the company.
Founded in 2021 by Aman Bhambra, Atul Sharma, and Kamalpreet Singh Sidhu, Presage Insights provides a cutting-edge platform that combines advanced IoT sensors with cloud-based software for real-time monitoring of machine health. This platform uses AI-powered diagnostics to offer actionable insights, helping predict and prevent equipment failures. As a result, manufacturers can save up to $6,000 per machine annually, extend equipment lifespans, and bridge the industrial skills gap.
Based in Noida, Presage Insights is on a mission to drive transformation within the industrial AI and IoT solutions sector. By minimizing machine breakdowns, enhancing predictive maintenance, and fostering intelligent automation, the company is empowering manufacturers to operate more efficiently, sustainably, and productively.
The global predictive maintenance market is expected to expand dramatically, growing from $7.5 billion in 2023 to $88.8 billion by 2032, at a compound annual growth rate (CAGR) of 31.6%. As the market for such solutions grows, Presage Insights aims to meet the rising demand for real-time, predictive tools that help manufacturers optimize resources, reduce waste, and boost productivity.
The company’s solutions are already deployed across several key industries, including FMCG, steel, cement, automotive, and process manufacturing. Prestigious clients such as Adani, Abbott Healthcare, BPCL, and Kansai Nerolac benefit from Presage’s technology.
Looking ahead, Presage Insights plans to launch new hardware models specifically designed for industrial applications, along with expanding its presence in international markets such as the Middle East, South America, and South Asia.
