TVS Motor Singapore Invests US$ 3.2 Million in Predictronics Corporation, an AI Driven Predictive Maintenance Analytics Solutions Provider

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TVS Motor Singapore Invests US$ 3.2 Million in Predictronics Corporation, an AI Driven Predictive Maintenance Analytics Solutions Provider

PR Newswire

SINGAPORE and CINCINNATI, Aug. 17, 2019 /PRNewswire/ — TVS Motor (Singapore) Pte. Limited, a wholly-owned subsidiary of TVS Motor Company Limited, India, has signed definitive agreements to invest US$ 3.2 million in Predictronics Corporation, a US corporation, headquartered in Cincinnati, Ohio, which specialises in providing end-to-end predictive maintenance analytics solutions.

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Predictronics’ solutions combine expertise in IIoT, Industrial AI, Big Data, Machine Learning, and Predictive Analytics to remove the uncertainty from industrial operations and improve process uptime, production planning, maintenance, and product quality by providing actionable information and accurate predictions that empower clients to have a transparent, worry-free business. Their claim to fame is that “We know what happens next, and so can you.”

Rajesh Narasimhan, Board Member of TVS Motor Company and CEO of TVS Motor (Singapore), stated that, “We evaluated many companies globally providing Predictive Maintenance solutions and found Predictronics’ product offerings and solutions to be a clear differentiator. Their PDX platform collects and analyses big data with a goal of reducing unplanned down time, increasing productivity and improving product quality. We are hence happy to invest in and strategically partner with Predictronics as they continue to deliver business improvements for Fortune 500 companies while leveraging them for our businesses.”

Edzel Lapira, Co-Founder & CEO of Predictronics added, “We believe TVS Motor Company is an ideal strategic investor and partner for Predictronics with the forward-looking vision, dedication, and clear business case for harnessing the power of advanced analytics technologies. Such investors are rare but also key for a company like Predictronics to guide, improve, and validate our technology, deployment strategy, business model, and go-to market. Having this relationship with a visionary company like TVS Motor Company, I believe, will truly take our company to a whole new level, while also addressing TVS Motor Company’s business goals.”

About TVS Motor Company & the TVS Group

TVS Motor Company is a public listed company, headquartered in India. It is a highly-reputed two and three-wheeler manufacturer, and the flagship company of the USD 8.5 billion TVS Group. Rooted in the 100-year legacy of Trust, Value, Passion for Customers and Exactness, it takes pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. TVS Motor Company is also the only two-wheeler company to have received the prestigious Deming Prize. It is the third largest two-wheeler manufacturer in India and ranks in the top 10 globally. The company has an excellent track record with innovation and quality and is the market leader in customer service.

TVS Motor (Singapore) Pte. Limited, headquartered in Singapore, is a wholly-owned subsidiary of TVS Motor Company that is being leveraged to operationalize a digital technology startup focused on the Automotive and Fintech industries, with portfolios and offerings that will deliver high quality solutions to help address real life business challenges by harnessing the power of Analytics, Artificial Intelligence (AI), Augmented Reality (AR), Internet of Things (IoT), Machine Learning (ML) and Virtual Reality (VR). The strategy adopts both inorganic and organic means for the initial build out and subsequent expansion and growth.

About Predictronics

Predictronics is a software and professional analytics services company, with a focus in predictive maintenance, based in Cincinnati, Ohio, USA that is dedicated to bringing real impact to its customers operations by reducing costs, preventing downtime, eliminating waste, and ensuring quality. Predictronics’ solutions are delivered by a team of experts that combine industrial domain knowledge with extensive experience in designing, developing, deploying and integrating predictive analysis and monitoring software.

Predictronics has been recognized recently by the Manufacturing Leadership Council with a Technology Partner Award for its work with an automotive supplier customer in the area of artificial intelligence and analytics.

 

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SOURCE TVS Motor (Singapore) Pte. Limited

NJF Capital: The Rise of the Eurocorn: Europe’s Billion-dollar Businesses

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NJF Capital: The Rise of the Eurocorn: Europe’s Billion-dollar Businesses

PR Newswire

LONDON, Aug. 17, 2019 /PRNewswire/ — Europe’s tech ecosystem is becoming a worthy rival to the US thanks to a recent boom in tech and start-up entrepreneurship. Investors such as NJF Capital are seizing the opportunity to work with these exciting new disruptors.

NICOLE JUNKERMANN, FOUNDER OF NJF HOLDINGS

We often think of unicorn companies as a Silicon Valley phenomenon, but in 2018 alone, 17 European companies achieved unicorn status, six of which were in the UK. 

Indeed, earlier this summer, London Tech Week celebrated the UK achieving 17 unicorns all of its own. According to data from Tech Nation and Dealroom, this places the UK third in world rankings for this milestone, just behind the US and China.

“This is incredibly exciting for European investors,” says NJF Capital founder Nicole Junkermann. “Europe’s tech ecosystem is now firmly established and can only continue to grow and evolve from here on in.”

The role of tech research and development in Europe

The quality of the European research base is arguably the principal reason for the current boom in Eurocorns. Europe is traditionally a centre for education and it’s in these hubs of knowledge and learning that Europe excels.

NJF Capital has been investing in European technology companies since 2011. Founder and CEO Nicole Junkermann comments: “In the UK alone, you have three out of the top 10 universities in the world. There is unrivalled excellence, particularly in the fields of biotech and life sciences, and this is an incredibly valuable knowledge base.”

A combination of start-up-friendly regs in Europe and a move towards acquisitions and consolidations has helped create a more buoyant, entrepreneurial culture supportive to tech start-ups, with Fintech and Medtech two of the major success stories to have emerged from this intellectual and research infrastructure over recent years.

Junkermann believes that Europe’s outstanding knowledge base “will remain a competitive advantage for many years to come.”

European tech start-ups can bring value for investors

Debate over the state of the exit environment in Europe compared to the US, particularly around IPOs, has been overhyped. Europe undoubtedly delivers value for investors, with the listing of Adyen in Amsterdam being just one recent successful example. And additionally, a vibrant exit market on both sides of the Atlantic will help European companies, such as the recent acquisition of Swedish firm iZettle by the US’ Paypal for $2.2bn.  As Junkermann says, “Europe undoubtedly delivers value for investors.”

Nicole Junkermann comments: “Speaking from personal experience, helping to grow a unicorn business is tremendously energising for the investor. NJF Capital’s current portfolio includes many businesses that have the potential to reach the $1 billion status, including European businesses such as Blockchain and Owkin.”

Cryptocurrency company Blockchain is based in the UK with other investors such as Jeremy Liew at Lightspeed and Tom Hulme at Google Ventures, and Owkin is a French-American biotech company, with other investors such as Adam Ghobarah at Google Ventures, Alex Pasteur at F Prime and Bruno Raillard at Frst. Both businesses are fast-moving and leading-edge, and Junkermann’s backing will help them to expand and develop.

 

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SOURCE NJF Capital

Nudge Rewards raises $9.3 million, led by Chicago-based Jump Capital to scale growth and drive innovation in employee experience management

Nudge Rewards raises $9.3 million, led by Chicago-based Jump Capital to scale growth and drive innovation in employee experience management

PR Newswire

TORONTO, Aug. 16, 2019 /PRNewswire/ — Nudge Rewards announced today that it has closed a $9.3 million (USD) growth round led by Chicago-based Jump Capital, with support from existing investors, to continue helping leading brands mobilize their frontline. Nudge has also announced that Michael McMahon, Managing Partner at Jump Capital, will join the Company’s board of directors.

In addition to scaling go-to-market capacity, the funding will be put toward growing the Data Science team in order to advance innovation within the emerging category of employee experience management, driven by predictive insights into frontline team performance that directly correlate to business outcomes, such as profitability and retention. By investing in machine learning and AI, Nudge is empowering customers to drive continual KPI improvement, with powerful recommendations enabling data-driven decision making. 

Nudge is one of the leading mobile-first solutions in frontline employee communication for experience-driven brands, empowering retail store associates and restaurant/hospitality staff to better deliver on the brand’s promise. The company has seen demand rise rapidly over the past three years, as brands increasingly realize the need for an effective way to influence and inspire their frontline as a means of solving inconsistent execution and performance. In the past year, Nudge has increased headcount by more than 40% and grown revenue by nearly 200%.

“Today’s announcement validates the increasing demand from world-class brands for a more effective way of connecting with their frontline employees. We’re thrilled to have the backing of Jump Capital as we enter our next phase of growth,” said Lindsey Goodchild, CEO and Founder, Nudge Rewards. “Jump shares our passion for digital transformation of an underserved workforce and being at the forefront of innovation in employee experience data across our key industries.”

Driven by a belief that employees perform better when they are empowered rather than audited, the Nudge app draws on behavior theory to build meaningful employee programs from the bottom-up. Mobile campaigns are designed upon choice architecture–a way of presenting choices that positively influences behaviors, without disrupting the voluntary nature of “nudging.” Customers include Roots, Margaritaville, Samsung, and Golf Town, all of whom use Nudge to connect with their frontline in meaningful ways.

“We are extremely excited to partner with Lindsey and the Nudge Rewards team as the emerging market leader in the empowerment of frontline associates,” said Michael McMahon. “Our investment reflects a shared conviction that tremendous value can be unlocked through the effective engagement and nurturing of customer-facing resources creating differentiated customer experiences and better financial outcomes.” 

Nudge is experiencing a rapid upward trajectory, with six quarters of consecutive growth. The company recently released Manager Insights, which provides frontline managers with access to actionable team performance data at their fingertips, better enabling them to coach employees toward improving location metrics.

This latest round brings the company’s total financing to over $15 million USD, which includes funding from Jump Capital and existing investors BDC, Brightspark, Generation Ventures, and Standup Ventures. With a founding team that is two thirds female, Nudge’s leadership is active in local programs that work to close the gender gap in tech. “Entrepreneurs come from all walks of life, but we still see glaring gaps in how venture capital is allocated,” says Goodchild. “Nudge continues to prioritize working with partners such as Jump who demonstrate diversity within their own teams and portfolios. There are many reasons to be excited about our next chapter of growth, one of them being able to support other female founders along the way.”

About Nudge Rewards
Nudge Rewards is a mobile solution that helps frontline teams do great work, everyday. Built on a foundation of behavioral theory and social mechanics, Nudge provides the tools retail, foodservice, and hospitality organizations need to improve frontline employee engagement and performance. Founded in Toronto, Canada, Nudge has delivered nearly 10 million nudges to the frontline to date, supported by an average 4.7 app rating from thousands of reviews worldwide.

About Jump Capital
Jump Capital is a venture capital firm specializing in expansion and growth stage investments ranging from $2-$20mm. Jump invests in data-driven enterprise software companies in four primary sectors:  B2B SaaS, Fintech, IT Infrastructure and Media. With offices in Chicago and New York, Jump provides advocacy and support through a platform of institutional-level resources for entrepreneurs. Learn more at www.jumpcap.com or follow on twitter @jumpcapital.

Media Contact:
Nav Sangha
Director of Marketing
nsangha@nudgerewards.com

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SOURCE Nudge Rewards