Maruti Suzuki to invest Rs 2 crore for 12.09 percent in Sociograph Solutions
Sociograph Solutions is a startup specialising in Artificial Intelligence and the investment is aligned to Government’s StartupIndia initiative to support startup ecosystem.
As reported earlier, Maruti Suzuki India will invest Rs 2 crore in Sociograph Solutions. The investment is part of Maruti Suzuki’s MAIL initiative to support startups with promising mobility solutions. Maruti Suzuki plans to use the Visual Artificial Intelligence (AI) platform of SSPL called Dave.AI, with an aim to enhance digital sales experience of its customers.
Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki said, “Our investment in SSPL demonstrates our resolve towards improving business metrics using contemporary technology. The Maruti Suzuki Innovation Fund is set up with an aim to invest in early-stage startups which are part of Maruti Suzuki programs. Our intent is to encourage innovation and promote the entrepreneurial spirit of the startups. We strongly believe in the philosophy of ‘Innovate – Collaborate and Co-Create’ to develop solutions for the industry and society.”
Talking about the investment, Sriram PH, co-founder and CEO, Dave.AI and Dr Ananth, Co-founder and CTO of Dave.AI said, “This collaboration immensely helped us by not only validating our concepts, but also learn and imbibe the skills that are required to scale up our operations in a sustainable manner. Post our collaboration with Maruti Suzuki under the MAIL program, we registered 300 percent growth in revenues and are on track to achieve $1 million annual revenue milestone this financial year.”
Through AI technology mimicking a human sales brain, the Dave.AI virtual avatars offer industry first 3D visualization which helps enhance customer experience. Analysing the customer journey, the software enables real-time personalised product/brand discovery experience on the web and drives efficiency in business. Dave.AI was the winner of Cohort 2 of Maruti Suzuki’s Mobility & Automobile Innovation Lab (MAIL) program. Maruti Suzuki is committed to supporting startups in automobile and mobility space.
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