Presage Insights, a leading provider of IoT & AI-based predictive maintenance has raised INR 5.6 crore in a seed funding round led by YourNest Venture Capital. This funding will accelerate Presage’s mission to transform the manufacturing industry through smart, connected and data-driven factories. It comes as part of the YourNest-SanchiConnect Velocity Program 2024 and will enable the company to expand its market presence, scale operations and accelerate innovation as it continues to transform the manufacturing industry.
Presage Insights offers a comprehensive platform that combines advanced IoT sensors and a cloud-based software solution, enabling real-time monitoring of machine health. Powered by AI-driven diagnostics, the platform delivers actionable insights to predict and prevent equipment failures. These solutions help manufacturers save up to $6,000 per machine annually, extend equipment lifespan, and bridge the skills gap in the industrial workforce. Its predictive maintenance solutions are already deployed across industries including FMCG, steel, cement, automotive and process manufacturing, serving leading customers such as Adani, Abbott Healthcare, BPCL and Kansai Nerolac.
Founded in 2021 by Aman Bhambra, Atul Sharma and Kamalpreet Singh Sidhu, Presage Insights envisions revolutionizing the manufacturing industry by creating smart, connected and data-driven factories. The company aims to lead in Industrial AI and IoT solutions, helping manufacturers achieve higher efficiency, productivity, and sustainability. Their key focus is on minimizing machine breakdowns, enhancing predictive maintenance and transforming manufacturing into an intelligent, automated ecosystem that maximizes value and minimizes waste.
Aman Bhambra, Co-Founder & CEO, Presage Insights, said, “With this investment, Presage is ready to redefine industrial maintenance and help businesses stay ahead of failures. It gives us the fuel to push our R&D further, making our AI-driven predictive maintenance even more accurate and reliable. We’re also bringing in Generative AI, fine-tuned on real-world data, to give maintenance teams the insights they need—fast—so they can make better decisions. This funding also helps us expand globally, reaching more industries and making machines more reliable everywhere. Most importantly, it allows us to grow our team and build a stronger foundation, ensuring every customer gets the best possible experience!!”
“Presage Insights presents a promising investment opportunity in the rapidly expanding predictive maintenance market. Its innovative hardware-software solution, supported by a strong, experienced team and patent-pending technology, addresses a critical industry need. With a scalable Opex model and early traction in both Indian and global markets, the company is primed for rapid growth. This opportunity aligns perfectly with our focus on Industry 4.0, offering exposure to high-potential, cutting-edge solutions in manufacturing,” said Sunil Goyal, Managing Director, YourNest.
The global predictive maintenance market is poised to grow from $ 7.5 billion in 2023 to $ 88.8 billion by 2032, with a CAGR of 31.6%. Presage is strategically positioned to take advantage of this growth by addressing key challenges in traditional maintenance practices, including high costs, inefficiencies and unplanned downtimes. The company plans to utilize the funds to enhance its market reach, scale operations and drive product innovation, including the introduction of new hardware models tailored to industrial use cases. The company is also set to expand its overseas footprint, with plans to establish offices in the Middle East, South America, and South Asia – regions where it already serves customers. Additionally, it aims to grow its workforce, with plans to increase its team to 40 professionals across various domains.
Presage Insights is revolutionizing industrial maintenance by addressing the need for predictive, real-time solutions that help manufacturers reduce waste, optimize resources, and enhance productivity. As industries increasingly adopt data-driven strategies, and are empowering them to transition to intelligent, automated ecosystems that maximize value and sustainability.