TVS Motor's Singapore arm invested $16.57 million in US-based start-ups

Investments were made in the fields of IoT, predictive maintenance and credit underwriting; group's Indonesian arm broke even last year

TVS Motor (Singapore) Pte Limited, a wholly-owned subsidiary of TVS Motor created to invest in tech start-ups, has invested about $16.57 million in 2019-20. 

According to the TVS Motor annual report, the Singapore subsidiary is leveraged to operationalise digital technology by delivering high-quality solutions that address real-life business challenges. These include  harnessing the power of Analytics, Artificial Intelligence, Augmented Reality, Machine Learning and Internet of Things.

These are areas focused on the automotive and fintech spaces, which have direct relevance to the Company and its subsidiaries. The digital strategy would be delivered through both organic and inorganic means, the company