TVS Motor (Singapore), a wholly-owned subsidiary of TVS Motor Company, has signed definitive agreements to invest $7 million in Scienaptic Systems, a Delaware corporation, headquartered in New York City. TVS Motor (Singapore) led the Series A funding in Scienaptic. The closing of the investment is subject to obtaining appropriate regulatory approvals.
Scienaptic has combined the 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),said, “We evaluated many companies providing big data analytics and risk management solutions and found Scienaptic’s product offerings and solutions with their ability to help organisations leverage actionable insights through the power of a strong analytics platform to be a clear differentiator and a unique proposition.”
Pankaj Kulshreshtha, Founder & CEO of Scienaptic, said, “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.”