New Delhi [India], March 23 : Automaker Maruti Suzuki lndia has invested about Rs 1.99 crore in Amlgo Labs Private Limited, a technology-led startup. The startup operates in the area of data analytics, cloud engineering, machine learning (ML) and artificial intelligence (Al), to assist companies in data driven decision making.
With this, Maruti Suzuki will own an equity stake of over 6.44 per cent in the startup, the automaker informed stock exchanges on Saturday.
The investment is being made through the Maruti Suzuki lnnovation 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, the company invested in Sociograph Solutions Private Limited, specialised in AI, in June 2022.
"We have been working with startups since 2019, as a part of the Maruti Suzuki lnnovation Program. Aligned with the government's Start Up India initiative, we are actively working to help strengthen the startup ecosystem and encourage innovation to develop solutions relevant to the automobile industry," HisashiTakeuchi, Managing Director and CEO, Maruti Suzuki India.
"Our investment in Amlgo Labs Private Limited will help us to further strengthen quality of new models, using advanced analytics and machine learning," Takeuchi added.
According to Ajay Yadav, Founder, Amlgo Labs Private Limited 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."
Started its journey in July 2017, the startup firm has offices in Gurugram and Bengaluru in lndia and Delaware in the US.
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