Pune-Based IIoT Startup Altizon Inc Raises $7 Million From TVS Motors, Others

altizon pune

altizon pune

Altizon Inc, a global industrial IIoT platform company addressing the manufacturing industries, announced the closure of its series A+ funding round of $7 million. This round was led by TVS Motor Company (Singapore) Pvt. Limited, the Singapore-based subsidiary of TVS Motor Company. The round also saw participation from existing investors like The Hive, Wipro Ventures, and Lumis Partners, among others.

“The Industrial IoT market continues to expand at a rapid pace and this investment brings on board TVS Motor Company which is the flagship company of the multi billion-dollar TVS Group, with deep experience building companies in the industrial sector,” said Vinay Nathan, CEO of Altizon. He added, “We have a strong roster of global industrial majors as our customers and they can now gain further benefit from our global footprints and enhanced technology offerings.”

THE BELAMY

Sign up for your weekly dose of what's up in emerging technology.

Altizon, which was founded in 2013, now plans to use the funds to strengthen its international presence and continue its investments in IP development. Altizon’s Datonis Industrial IoT platform addresses the breadth of industrial IoT needs from intelligent edge computing to business applications for smart manufacturing.

Rajesh Narasimhan, Board Member of TVS Motor Company and CEO of TVS Motor (Singapore) said in a statement, “After detailed assessments around industrial IoT platforms we found Altizon’s technology portfolio of definitive value in driving digital transformation with Industrial IoT. We are hence delighted to invest and have the opportunity to partner them in their exciting journey of growth and market leadership. This is amongst our first set of investments in digital start-ups focused on the Automotive and Fintech Industries.”

More Great AIM Stories

Prajakta Hebbar
Prajakta is a Writer/Editor/Social Media diva. Lover of all that is 'quaint', her favourite things include dogs, Starbucks, butter popcorn, Jane Austen novels and neo-noir films. She has previously worked for HuffPost, CNN IBN, The Indian Express and Bose.

Our Upcoming Events

Conference, in-person (Bangalore)
Machine Learning Developers Summit (MLDS) 2023
19-20th Jan, 2023

Conference, in-person (Bangalore)
Rising 2023 | Women in Tech Conference
16-17th Mar, 2023

Conference, in-person (Bangalore)
Data Engineering Summit (DES) 2023
27-28th Apr, 2023

Conference, in-person (Bangalore)
MachineCon 2023
23rd Jun, 2023

Conference, in-person (Bangalore)
Cypher 2023
20-22nd Sep, 2023

3 Ways to Join our Community

Whatsapp group

Discover special offers, top stories, upcoming events, and more.

Discord Server

Stay Connected with a larger ecosystem of data science and ML Professionals

Subscribe to our newsletter

Get the latest updates from AIM