TVS Motor (Singapore), a wholly-owned subsidiary of TVS Motor Company, India, has signed definitive agreement to invest $3.2 million in US-based Predictronics Corporation.
Predictronics is an AI-driven predictive maintenance analytics solutions provider. The company's solutions combine expertise in Industrial Internet of Things, Industrial AI, Big Data, Machine Learning, and Predictive Analytics to remove uncertainty from industrial operations. Other objectives include improving the process uptime, production planning, and maintenance, by providing actionable information and accurate predictions that empower clients to have a transparent business, according to the company release.
Rajesh Narasimhan, member of the TVS Motor board and CEO of TVS Motor (Singapore), said the company has evaluated many entities globally, providing predictive maintenance solutions, and in the process has found Predictronics’ offerings and solutions to be a clear differentiator.
Their PDX platform collects and analyses Big Data with a goal of reducing unplanned down time, increasing productivity and improving product quality.
TVS Motor (Singapore) is a wholly-owned subsidiary of TVS Motor, which is being leveraged to operationalise a digital technology start-up focused on the automotive and fintech sectors, with portfolios and offerings that will deliver high-quality solutions. This is to help firms address business challenges by harnessing the power of Analytics, Artificial Intelligence (AI), Augmented Reality (AR), Internet of Things (IoT), Machine Learning (ML) and Virtual Reality (VR). The strategy adopts both inorganic and organic means for the initial build-out, and subsequent expansion and growth.
The company has invested in four entities till date, including Altizon ($2.5 million) Tagbox ($3.85 million), Scienaptic ($7.03 million), and now Predictronics ($3.2 million). The cumulative investment stands at around $16.57 million.