TVS Motors Plunges $7 mn in US-based Scienaptic Systems

Share on facebook
Share on google
Share on twitter
Share on linkedin
Time to Read: 2 minutes

The New York based big data analytics startup has a unique platform called Ether which uses its proprietary machine learning and artificial intelligence algorithms.

There is a surge in the collaboration between multi-national companies and startups through acquisitions and funding. These investments are constantly giving a boost to both the sides, serving companies with new age technologies for the growth of their businesses and wide exposure to the startups. 

As part of its another strategic investment in startups, TVS Motor Company Limited has inked a definitive agreement with New York-based Scienaptic Systems Inc to plunge $7 million in the latter’s series-A funding. The company, in a filing to the BSE, said that the closing of the investment is subject to obtaining necessary regulatory approvals.

The New York based big data analytics startup has a unique platform called Ether which uses its proprietary machine learning and artificial intelligence algorithms. This startup is expected to help the company in improving risk and credit assessment and monitor evolving fraud patterns among other benefits.

Reportedly, TVS Motor’s Singapore-headquartered arm’s objective is to leverage the benefits of digital technologies with a focus on the automotive and fintech industries. Consequently, it is building capabilities around big data analytics, artificial intelligence (AI), augmented reality (AR), internet of things (IoT), machine learning (ML) and virtual reality (VR) with an intention to deploy these new-age tools to solve business challenges.

Other recent investments made by TVS Motors include $2.5 million in IoT firm Altizon, $3.85 million in ML developer TagBox and about ₹11 crore in electric motorcycle startup named Ultraviolette Automotive Private Limited.

Related Article  IIM-Udaipur Introduces New Course to Prepare Students for Technological Shift

Rajesh Narasimhan, board member of TVS Motor Company and CEO of TVS Motor (Singapore), said, “Scienaptic’s end-to-end data analytics solution, with applicability to customers in various industries, has the potential to generate a new profit stream for our group. We are happy to invest in, and strategically partner with Scienaptic as they continue to pursue bottom-line impact for Fortune 100 companies. Our current investment in Scienaptic is part of the initial set of investments being made in strategically relevant digital startups.”

Leave a Reply

SUBSCRIBE FOR XTECHALPHA NEWS AND RECEIVE WEEKLY UPDATES

Xtechalpha Xclusive

RSS Latest Technology News

  • Google Postpones Android 11 Launch Event, Beta Release May 30, 2020
    Google is delaying the launch event and beta release for its Android 11 operating system, which had originally been planned for next week. “Now is not the time to celebrate,” the Alphabet Inc.-owned company said in a notice published on its Android ...
  • Samsung Galaxy M11, Galaxy M01 Set to Launch in India on June 2, Flipkart Reveals May 30, 2020
    Samsung Galaxy M11 and Galaxy M01 are set to launch in India on June 2, Flipkart revealed through a couple of teasers. The e-commerce site also confirms that both new Samsung phones will be available for purchase shortly after the official launch.
    Jagmeet Singh
  • Top alternative Nintendo Switch controllers you can snag from Amazon.sg May 30, 2020
    So you've been at it with your shiny new Nintendo Switch for the past few months or weeks. Sure, it has been pretty great with the unique ability to switch between docked and undocked modes within seconds. However, sometimes, it's a little too much of a ...
    Marion Frayna

Follow Us

TVS Motors Plunges $7 mn in US-based Scienaptic Systems

by News Desk Time to Read: 1 min
0
AI Tool to Reshape Treatment by Predicting Cell Behaviors
Get to know the latest updates on exponential technologies, new age industry segments with our weekly XTechalpha Xclusive newsletter straight in your mailbox.