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TVS Motor Singapore Pte Ltd said on Saturday it has signed definitive agreements to invest 3.2 million dollars (about Rs 22.7 crore) in Predictronics Corporation, a US-based company headquartered in Ohio which specialises in providing end-to-end predictive maintenance analytics solutions.
Predictronics' solutions combine expertise in IIoT, industrial AI, big data, machine learning and predictive analytics to remove the uncertainty from industrial operations and improve process uptime, production planning, maintenance and product quality by providing actionableinformation and accurate predictions that empower clients to have a transparent, worry-free business.
Its claim to fame is that 'We know what happens next, and so can you.'
"We evaluated many companies globally providing predictive maintenance solutions and found Predictronics' product offerings and solutions to be a clear differentiator," said Rajesh Narasimhan, Board Member of TVS Motor Company and CEO of TVS Motor Singapore.
"Their PDX platform collects and analyses big data with a goal of reducing unplanned down time, increasing productivity and improving product quality. We are hence happy to invest in and strategically partner with Predictronics as they continue to deliver business improvements for Fortune 500 companies while leveraging them for our businesses," he said in a statement.
Edzel Lapira, Co-Founder and CEO of Predictronics said: "We believe TVS Motor is an ideal strategic investor and partner for Predictronics with the forward-looking vision, dedication and clear business case for harnessing the power of advanced analytics technologies."
Such investors are rare but also key for a company like Predictronics to guide, improve and validate its technology, deployment strategy, business model and go-to-market, he said.
"Having this relationship with a visionary company like TVS Motor Company, I believe, will truly take our company to a whole new level while also addressing TVS Motor's business goals," he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)