Maruti Suzuki picks up 6.44% stake in AI startup Amlgo Labs
This is the second investment in a startup by Maruti Suzuki. The company had earlier invested in Sociograph Solutions Private Limited in June 2022.
Maruti Suzuki India Limited has picked up 6.44% stake in AI and ML startup Amlgo Labs Private Limited for Rs 1.99 crore.
The investment is being made through the Maruti Suzuki Innovation Fund, an initiative which aims to invest in startups that showcase high levels of technological innovation.
“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,” said Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited.
"Our investment in Amlgo Labs Private Limited will help us to further strengthen quality of new models, using advanced analytics and machine learning,” he added.
Founded in 2017, Amlgo Labs operates in the area of data analytics, cloud engineering, Machine Learning (ML) and Artificial Intelligence (AI), and helps companies make data-driven decisions.
This is the second investment in a startup by Maruti Suzuki. The company had invested in Sociograph Solutions Private Limited in June 2022.
“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,” said Ajay Yadav, Founder of Amlgo Labs.
Amlgo Labs has offices in Gurugram and Bengaluru in India, and Delaware, USA.
Edited by Megha Reddy