Pune- and US-based Altizon Inc., which operates a platform for developing solutions based on industrial Internet of Things (IIoT), has raised $7 million (Rs 49 crore) in a Series A round from a clutch of investors. The company said in a statement the round was led by TVS Motor Company (Singapore) Pte. Ltd, a subsidiary of TVS Motor Company Ltd. Existing investors The Hive, Wipro Ventures and Lumis Partners also participated in the round. In a separate disclosure with stock exchanges, TVS Motors disclosed it invested $2.5 million in exchange for a 14.14% stake.