The investment would help MSIL make best data-driven decisions to further enhance its offerings to customers.
22 Mar 2024 | 1930 Views | By Autocar Professional Bureau
Maruti Suzuki India (MSIL) has acquired a 6.44% stake in Amlgo Labs, an artificial intelligence and machine learning firm, for Rs 2 crore.
The investment in Amlgo Labs, a technology-led startup, is being made through the Maruti Suzuki Innovation Fund, an initiative to undertake strategic investments in startups which ...
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Maruti Suzuki India (MSIL) has acquired a 6.44% stake in Amlgo Labs, an artificial intelligence and machine learning firm, for Rs 2 crore.
The investment in Amlgo Labs, a technology-led startup, is being made through the Maruti Suzuki Innovation Fund, an initiative to undertake strategic investments in startups which exhibit high levels of technological innovation.
Amlgo Labs, which has offices in Gurugram and Bengaluru in India and Delaware, USA 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% in the startup. This is the second such investment by Maruti Suzuki, which in June 2022 invested in Sociograph Solutions.
Hisashi Takeuchi, MD and CEO, Maruti Suzuki India, 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 will help us to further strengthen quality of new models, using advanced analytics and machine learning.”
Ajay Yadav, founder, Amlgo Labs 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.”