TVS Motor Company’s Singapore subsidiary will be investing $1 million in the U.S.-based Altizon Inc. to further strengthen its partnership with the latter.
As per the deal, about 2.12 lakh series A preferred stock will be issued by Altizon Inc. to TVS Motor Singapore Pte. Ltd., (TVSM) which is already a shareholder in Altizon. With this investment, TVSM will further strengthen its partnership with Altizon in continuing its journey of growth and market leadership. TVS Motor Company said in a regulatory filing.
Altizon, an Industrial IoT company, empowers industrial digital revolutions globally by helping enterprises use machine data to drive business decisions. It has presence in Pune and Scotts alley, California.