Updated March 25th, 2024 at 12:11 IST

Maruti Suzuki picks up stake in machine learning & AI-based startup

Maruti Suzuki to invest over Rs 1.99 crore in Amlgo Labs Private Limited

Reported by: Business Desk
Maruti Suzuki | Image:Flickr
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Aligned with StartUpIndia: Leading automaker Maruti Suzuki India Limited has said that the company will invest over Rs 1.99 crore in Amlgo Labs Private Limited, a technology-led startup. 
The startup operates in the area of data analytics, cloud engineering, Machine Learning (ML) and Artificial Intelligence (AI), to assist companies in data-driven decision-making. With this, Maruti Suzuki will own an equity stake of over 6.44 per cent  in the startup, said a company statement. 

“The investment is being made through the Maruti Suzuki Innovation Fund, an initiative to undertake strategic investments in startups that exhibit high levels of technological innovation,” the company statement added. 

This is the second such investment by Maruti Suzuki India. Earlier to this, the company invested in Sociograph Solutions Private Limited in June 2022, according to the statement. 
Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited said, “We have been working with startups since 2019, as a part of the Maruti Suzuki Innovation program. Aligned with the Government's #StartUpIndia initiative, we are actively working to help strengthen the startup ecosystem and encourage innovation to develop solutions relevant to the automobile industry. Our investment in Amlgo Labs Private Limited will help us to further strengthen quality of new models, using advanced analytics and machine learning.”

Ajay Yadav, Founder, Amlgo Labs Private Limited said, “Our collaboration with Maruti Suzuki has proven to be fruitful, helping our company augment and scale up operations. Combining our expertise in Data Analytics, Machine Learning and Artificial Intelligence based solutions, with mentorship and networking opportunities offered by Maruti Suzuki, we will be able to further refine our offering.”

 

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Published March 25th, 2024 at 12:11 IST