TVS Motor acquires integrated IoT solution provider Intellicar Telematics

TVS Motor has acquired Intellicar Telematics Private Limited, an integrated IoT solution with fleet tracking and predictive maintenance solutions to a wide range of vehicle types. The company has invested around Rs 15 crore.

Intellicar provides advanced fleet management solutions through an integrated platform powered by IoT technologies coupled with strong analytics and data management capabilities. It will help accelerate the ongoing digital initiatives at TVS Motor Company Ltd that are targeted at delivering enhanced customer experience.

Intellicar Telematics was incorporated in February 2015, in 2019-20: Rs.16.10 crore, as compared to Rs 14.54 crore in 2018-19 in 2017-18 Rs 9.66 crore.

Other investments made by TVS Motor through its Singapore arm include electric bike maker Ultraviolette Automotive, Tagbox Solutions Ltd, Singapore-based Tagbox Pte Ltd and US-based Predictronics Inc and RentOnGo, an online marketplace for renting bikes and appliances.

Tagbox Solutions Private Limited (24.3% stake) provides IoT-based solutions for sensing, monitoring and analysis across supply chain activities. Predictronics Corporation, US (23.5% stake) is an AI driven predictive maintenance analytics solutions provider. 

Altizon Inc (14.1% stake) specialises in industrial internet of things (IIoT) and addresses manufacturing industries. The idea is to integrate machine data with related information from other IT systems on the shop floor to build a manufacturing data lake. Analysis of this data would bring visibility and predictability into its manufacturing value chain and make the system cost efficient.

Scienaptics Systems Inc (17% stake) uses AI-enabled platform 'Ether' to provide customer solutions. It helps the company improve risk and credit assessment and monitor evolving fraud patterns among other benefits.

The Singapore subsidiary TVS Motor (Singapore) Pte Limited, which was created to invest in tech startups, has invested around $16.57 milion in 2019-20.

Analysts said that TVS Motor has huge amount of data from its manufacturing capabilities and aftermarket is another part of their business. With the investment in startups, they now have access to IoT and machine learning which could help them rationalise and optimise the entire component supply chain and also offer innovative solutions to improve their manufacturing efficiency. Moreover, these technologies can be leveraged for the group companies as well.