Maruti Suzuki acquires stake in homegrown AI startup Amlgo Labs
Maruti Suzuki India limited has achieved cumulative production of more than 2.5 crore (25 million) units.
New Delhi: Maruti Suzuki India on Saturday announced it has invested in Amlgo Labs Private Limited, an Artificial Intelligence and Machine Learning (AI-ML)-led startup.
With an investment of over Rs 1.99 crore, Maruti Suzuki will own an equity stake of over 6.44 per cent in the startup.
The startup operates in the area of data analytics, cloud engineering, and AI-ML to assist companies in data-driven decision-making.
“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,” said Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited.
The investment is being made through the Maruti Suzuki Innovation Fund, an initiative to undertake strategic investments in startups which exhibit high levels of technological innovation.
This is the second such investment by the company.
Earlier, it invested in Sociograph Solutions Private Limited in June 2022.
“Combining our expertise in data analytics, ML and AI-based solutions, with mentorship and networking opportunities offered by Maruti Suzuki, we will be able to further refine our offering,” said Ajay Yadav, Founder, Amlgo Labs Private Ltd.
Amlgo Labs has offices in Gurugram, Bengaluru and Delaware in the US.