Chennai: TVS Motor Company has invested $3.85 million in TagBox, a supply chain IIoT and Machine Learning platform company, as part of its Series A funding round.
The round was entirely led by TVS and its Singapore based Subsidiary, TVS Motor (Singapore) Pte. Limited.
Board Member of TVS Motor Company and CEO of TVS Motor (Singapore), Rajesh Narasimhan, said, ‘We evaluated many companies providing IoT solutions in the supply chain and logistics space and found TagBox’s product offerings and solutions to be an unique blend of IoT, Machine Learning and close-loop AI. We are happy to invest in and strategically partner TagBox as they continue to pursue bottomline impact for Fortune 1,000 companies by improving their supply chain processes while leveraging them for our own group businesses. Our current investment in Tagbox is part of the initial set of investments being made in strategically relevant digital startups.’
TagBox will se the funds to strengthen product innovation and R&D while expanding its global footprint, while continuing to invest in their platforms and develop new predictive analytics and automation solutions.