By Samachar Vishesh News
Chandigarh 24th
July:- TVS Motor (Singapore) Pte. Limited, a wholly-owned
subsidiary of TVS Motor Company Limited, India, has signed definitive
agreements to invest US$7 million in Scienaptic Systems Inc., a Delaware corporation, headquartered in New York City.
TVS Motor (Singapore) Pte. Limited led this Series A funding in Scienaptic. The
closing of the investment is subject to obtaining appropriate regulatory
approvals.
Scienaptic
has combined latest big data technologies and proprietary machine learning and
artificial intelligence algorithms on its decision platform, “Ether”.
Solutions built on Ether enable enterprises
to improve risk and credit assessment, monitor evolving fraud patterns, and
improve customer journeys and experience. Scienaptic counts several marquee
Fortune 100 enterprises as its clients.
Rajesh
Narasimhan, Board Member of TVS Motor Company and CEO of TVS Motor (Singapore),
stated that e evaluated many companies providing big data analytics and risk
management solutions and found Scienaptic’s product offerings and solutions
with their ability to help organizations leverage actionable insights through
the power of a strong analytics platform to be a clear differentiator and a
unique proposition. He said that 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, and to leverage Scienaptic
for our businesses. Our current investment in Scienaptic is part of the
initial set of investments being made in strategically relevant digital
startups.
Pankaj
Kulshreshtha, Founder & CEO of Scienaptic added that we are witnessing the
adoption of our AI platform at Fortune 100 companies. With the cutting edge
instruments on our platform, companies are able to drive adoption of AI in
their processes. The investment by TVS enables us to accelerate our sales and
product development. We found a significant match in value systems between the
two organizations and believe that our collective strengths will enable
Scienaptic to grow exponentially and become a global leader in AI-powered
decisioning space.
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