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Updated March 23rd, 2024 at 16:23 IST

Maruti Suzuki acquires 6.44% stake in Amlgo Labs

This strategic investment is made through the Maruti Suzuki Innovation Fund, aimed at supporting startups with high levels of technological innovation.

Reported by: Business Desk
Maruti Suzuki
Maruti Suzuki | Image:X Photo
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MSIL acquisition in AI: Maruti Suzuki India Limited (MSIL) has invested Rs 2 crore to acquire a 6.44 per cent stake in Amlgo Labs, a startup specialising in artificial intelligence and machine learning. This strategic investment is made through the Maruti Suzuki Innovation Fund, aimed at supporting startups with high levels of technological innovation.

Amlgo Labs, with offices in Gurugram, Bengaluru, and Delaware, USA, focuses on data analytics, cloud engineering, machine learning, and AI to assist companies in making data-driven decisions. Maruti Suzuki's stake in Amlgo Labs will improve its technological capabilities, particularly in developing advanced analytics and machine learning solutions for new models.

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Hisashi Takeuchi, MD and CEO of Maruti Suzuki India, expressed the company's commitment to fostering innovation in alignment with the government's '#StartUpIndia' initiative. This investment reflects Maruti Suzuki's ongoing efforts to strengthen the startup ecosystem and leverage innovation for the automotive industry.

Ajay Yadav, founder of Amlgo Labs, highlighted the benefits of collaboration with Maruti Suzuki, emphasizing the support received in scaling up operations. The partnership aims to refine Amlgo Labs' offerings by combining their expertise with Maruti Suzuki's mentorship and networking opportunities.

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This investment marks Maruti Suzuki's second such venture, following a previous investment in Sociograph Solutions in June 2022. The company's strategic approach to technological innovation underscores its commitment to driving innovation and excellence in the automotive sector.

(with PTI inputs)

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Published March 23rd, 2024 at 16:23 IST

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