08 May 2019, India:
Supply chain firm TagBox has raised $3.8 million as a part of Series A round of funding. The round was led by TVS Motor and its Singapore based Subsidiary, TVS Motor (Singapore) Pte.
The company will use the fresh capital to strengthen it’s product innovation and R&D capabilities while expanding its global footprint. The company will continue to invest in their BoxLens and AssetLens platforms and develop new predictive analytics and automation solutions to solve various customer use cases.
“We evaluated many companies providing IoT solutions in the Supply Chain and logistics space and found TagBox’s product offerings and solutions to be an unique blend of IoT, machine learning and close-loop AI. Their ability to help organisations monitor, predict and prevent SKU health risk in the supply chain is a clear differentiator. We are happy to invest in and strategically partner TagBox as they continue to pursue bottomline impact for Fortune 1000 companies by improving their supply chain processes while leveraging them for our own group businesses,” said Rajesh Narasimhan, board member of TVS Motor Company and CEO of TVS Motor (Singapore).
Rajesh Narasimhan, added, “Our current investment in TagBox is part of the initial set of investments being made in strategically relevant digital startups.”
“Organisations across the globe are increasingly adopting IoT and machine learning solutions to improve their supply chains and operations. We are excited that TVS Motor’s worldwide operations and experiences will help make our product and value proposition stronger and highly differentiated,” said Adarsh Kumar, CEO, TagBox .
Adarsh Kumar, added, “We have already delivered ROI from our IoT-based predictive insights solutions for leading retail, e-commerce, pharma, F&B, dairy and manufacturing companies in India and APAC. We believe it is now time to scale our product globally.”
(Image – TagBox)