TVS Motor Company on Saturday said its Singapore arm has invested $3.2 million in US-based Predictronics Corporation which specialises in providing end-to-end predictive maintenance analytics solutions.
TVS Motor (Singapore) Pte Ltd, a wholly owned subsidiary, has signed definitive agreements with Predictronics Corporation, a US corporation, headquartered in Cincinnati, Ohio, the company said in a statement.
TVS Motor Company Board Member and CEO of TVS Motor (Singapore) Rajesh Narasimhan said, "We evaluated many companies globally providing Predictive Maintenance solutions and found Predictronics' product offerings and solutions to be a clear differentiator...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."
Predictronics' solutions combine expertise in IIoT (industrial internet of things), industrial AI, big data, machine learning, and predictive analytics to remove uncertainty from industrial operations and improve process uptime, production planning, maintenance, and product quality by providing actionable information and accurate predictions that empower clients to have a transparent, worry-free business, the statement said.
Predictronics Co-Founder and CEO Edzel Lapira said, "We believe TVS Motor Company 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."
Investment from a company like TVS is also key for a firm like Predictronics to guide, improve, and validate its technology, deployment strategy, business model and go-to market, Lapira added.