Field service automation platform Zinier raises $90 million led by ICONIQ Capital, Technology News, ETtech

Arka Dhar (Left) Andrew Wolf (Right)
Arka Dhar (Left) Andrew Wolf (Right)

Field service automation startup Zinier has raised $90 million (about Rs 638 crore) in Series C funding from investors led by ICONIQ Capital.

The round also saw the participation of Tiger Global Management, along with existing investors Accel, Founders Fund and Qualcomm Ventures LLC, among others.

The San Francisco and Bengaluru-based company said it will use the funds to expand its global footprint to Australia, Brazil, Chile, France and the Iberian Peninsula. It said it will also invest in research and development for its artificial intelligence-driven platform ISAC to add further capabilities and reach out to more industries that rely on field service agents.

“Services that we rely on every day – electricity, transportation, communication – are getting by on centuries-old infrastructure that requires a major upgrade for the next generation of users,” said Arka Dhar, CEO of Zinier. “A field service workforce powered by both people and automation is necessary to execute the massive amount of work required to not only maintain these critical human infrastructures but also prepare for growth.”

Zinier works with electricity and telecom companies to automate their field services jobs, which have largely been reactive in nature and where agents are only called in when something breaks. The company works with clients such as Black & Veatch and Car-Sa, and has formed strategic partnerships with system integrators such as Capgemini and Tata Consultancy Services.

“Zinier is poised to disrupt field service delivery as we know it,” said Will Griffith, partner at ICONIQ Capital. “It is critical for companies to optimise this costly and complex part of their business, and Zinier has the platform-based technology and team to take on this global, multi-industry market.

The company is also betting on 5G roll-out impacting telecom, energy, utilities and many other industries, which will put field service organisations at the front of business growth. Including the latest funding, Zinier has so far raised around $120 million from leading investors.

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