Maruti Suzuki India has invested more than Rs 1.99 crore in Amlgo Labs, a technology-driven firm. This means Maruti Suzuki will possess more than 6.44% of the startup’s stock.
The firm specialises in data analytics, cloud engineering, machine learning (ML), and artificial intelligence (AI), assisting businesses in making data-driven decisions.
The investment is made through the Maruti Suzuki Innovation Fund, an initiative that makes strategic investments in firms with high levels of technical innovation.
This is the second such investment by the OEM. Earlier this year, Maruti Suzuki India invested in Sociograph Solutions in June 2022.
Hisashi Takeuchi, MD & CEO, Maruti Suzuki India, said, “We have been working with startups since 2019 as a part of the Maruti Suzuki Innovation programme. 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 further strengthen the quality of new models using advanced analytics and machine learning.”
Ajay Yadav, founder of 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 the mentorship and networking opportunities offered by Maruti Suzuki, we will be able to further refine our offering.”
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