New Delhi, March 23: Maruti Suzuki India on Saturday announced it has invested in Amlgo Labs Private Limited, an Artificial Intelligence and Machine Learning (AI-ML)-led startup. With an investment of over Rs 1.99 crore, Maruti Suzuki will own an equity stake of over 6.44 per cent in the startup. The startup operates in the area of data analytics, cloud engineering, and AI-ML to assist companies in data-driven decision-making.
“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. Tata Power Announces Its Collaboration With ‘Ayodhya Development Authority’ To Deploy Charging Points on Crucial Routes Around City To Accelerate Adoption of EVs.
The investment is being made through the Maruti Suzuki Innovation 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, it invested in Sociograph Solutions Private Limited in June 2022. Mahindra Partners With Adani Total Energies E-Mobility To Boost EV Charging Infrastructure in India.
“Combining our expertise in data analytics, ML and AI-based solutions, with mentorship and networking opportunities offered by Maruti Suzuki, we will be able to further refine our offering,” said Ajay Yadav, Founder, Amlgo Labs Private Ltd. Amlgo Labs has offices in Gurugram, Bengaluru and Delaware in the US.
(The above story first appeared on LatestLY on Mar 23, 2024 01:56 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
