TVS Motor Company has invested USD 3.85 million (about Rs 26.69 crore) in TagBox, a machine learning platform company as part of its Series A funding round.
This round was entirely led by TVS Motor Company and its Singapore based subsidiary TVS Motor (Singapore) Pte Limited, the company said in a statement on Wednesday.
The current investment in Tagbox is part of the initial set of investments, being made in strategically relevant digital startups, it said.
TagBox plans to use the funds to strengthen product innovation and R&D, while expanding its global footprint, it added.
Launched in 2016, Tagbox Solution provides a coldchain solution, food spoilage, product damage, real-time signal for theft and pilferage.
TagBox was started with the vision of enabling organizations to make their Supply Chains more reliable. Tagbox’s solutions lie at the intersection of the Internet of Things based monitoring, Advanced Analytics, and Automation & Control.
TagBox monitors the health of the products in real-time and ensures that the shipments’ quality is not compromised. Tagbox is working with Retail, Pharma, F&B, Dairy and Glass companies in India and APAC.