TVS Motor invests Rs 23 crore in predictive maintenance analytics solutions company

by Autocar Pro News Desk , 17 Aug 2019


Predictronics’ predictive analytics solutions claimed to help manufacturers banish production line bottlenecks, sudden machine failures, enabling improved product quality & optimal machine performance

TVS Motor (Singapore) Pte, a wholly-owned subsidiary of TVS Motor Company, has signed definitive agreements to invest US$ 3.2 million (Rs 23 crore) 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 is that “We know what happens next, and so can you”.

Predictronics says it has been at the forefront of bringing predictive analytics solutions to the market since 2013, when its co-founders identified the opportunity to translate predictive analytics research into real-world impacts. Its team of highly experienced engineers, data scientists and software developers have helped customers in nearly every industry segment collect and analyze data to monitor critical assets and discover the key to a proactive maintenance policy and increased productivity. Predictronics’ custom solutions have prevented asset failures that can quickly add up to millions of dollars in downtime and maintenance costs, allowing customers to optimize performance by proactively planning for corrective actions.

By using Predictronics’ predictive analytics solutions, manufacturers can put an end to production line bottlenecks, sudden machine failures, unnecessary repairs and waste, achieving improved product quality, optimal machine performance, extended maintenance windows and worry-free uptime.

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 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.”

Also read: TVS Motor invests $7 million in US-based AI company Scienaptic Systems 


 

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