TVS MOTOR SINGAPORE INVESTS US$ 3.2 MILLION IN PREDICTRONICS CORPORATION, AN AI DRIVEN PREDICTIVE MAINTENANCE ANALYTICS SOLUTIONS PROVIDER
OCTOBER 2, 2019
Cincinnati, USA and Singapore – TVS Motor (Singapore) Pte. Limited, a wholly-owned subsidiary of TVS Motor Company Limited, India, has signed definitive agreements to invest US$ 3.2 million in Predictronics Corporation, a US corporation, headquartered in Cincinnati, 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 actionable information and accurate predictions that empower clients to have a transparent, worry-free business. Their claim to fame is that “We know what happens next, and so can you”.
Rajesh Narasimhan, Board Member of TVS Motor Company and CEO of TVS Motor (Singapore), stated that “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 & CEO of Predictronics added, “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. 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 Company, I believe, will truly take our company to a whole new level, while also addressing TVS Motor Company’s business goals.”
About TVS Motor Company & the TVS Group
TVS Motor Company is a public listed company, headquartered in India. It is a highly-reputed two and three-wheeler manufacturer, and the flagship company of the USD 8.5 billion TVS Group. Rooted in the 100-year legacy of Trust, Value, Passion for Customers and Exactness, it takes pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. TVS Motor Company is also the only two-wheeler company to have received the prestigious Deming Prize. It is the third largest two-wheeler manufacturer in India and ranks in the top 10 globally. The company has an excellent track record with innovation and quality and is the market leader in customer service.
TVS Motor (Singapore) Pte. Limited, headquartered in Singapore, is a wholly-owned subsidiary of TVS Motor Company that is being leveraged to operationalize a digital technology startup focused on the Automotive and Fintech industries, with portfolios and offerings that will deliver high quality solutions to help address real life 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.
Predictronics is a software and professional analytics services company, with a focus in predictive maintenance, based in Cincinnati, Ohio, USA that is dedicated to bringing real impact to its customers operations by reducing costs, preventing downtime, eliminating waste, and ensuring quality. Predictronics’ solutions are delivered by a team of experts that combine industrial domain knowledge with extensive experience in designing, developing, deploying and integrating predictive analysis and monitoring software.
Predictronics has been recognized recently by the Manufacturing Leadership Council with a Technology Partner Award for its work with an automotive supplier customer in the area of artificial intelligence and analytics.
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