As part of its strategy to invest in niche and gennext technology companies, TVS Motor Company has picked up an undisclosed stake in Ohio (US)-based Predictronics Corporation, a specialist in providing end-to-end predictive maintenance analytics solution, for an investment of $3.2 million. TVS made investment in the US company through its Singapore subsidiary called TVS Motor (Singapore). This is the third such investment by the TVS arm in the past few months.
Predictronics is the third such company in the US, where TVS Motor's Singapore subsidiary invests for a considerable stake.
Earlier in April, TVS’ Singapore arm picked up little over 14% stake in the US-based Altizon, an industrial IoT company, for an investment of $25,00,000. Again in July this year, TVS Singapore signed a definitive agreement to invest $7 million in big data analytics company Scienaptic Systems Inc, a Delaware corporation, headquartered in New York City.
In a press release here on Saturday, TVS Motor said Predictronics' solutions combine expertise in IoT, industrial AI, big data, machine learning and predictive analytics to remove uncertainty from industrial operations and improve process up time, production planning, maintenance and product quality, by providing actionable information and accurate predictions that empower clients to have a transparent, worry-free business. Their claim to fame is 'We know what happens next, and so can you'.
Rajesh Narasimhan, board member of TVS Motor Company and CEO of TVS Motor (Singapore), said: "We evaluated many companies globally providing predictive maintenance solutions and found Predictronics' product 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. 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."
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 our technology, deployment strategy, business model, and go-to market. Having this relationship with a visionary company like TVS Motor, I believe, will truly take our company to a whole new level, while also addressing TVS Motor’s business goals."