By Priya Singh
4197 Views
Updated On: 26-Mar-2024 04:28 PM
With this investment, Maruti Suzuki will now own a stake of more than 6.44% in the startup.
Key Highlights:
• Maruti Suzuki invests Rs 1.99 crore in Amlgo Labs, a tech firm.
• Maruti now owns over 6.44% of Amlgo's stock, boosting its tech portfolio.
• The investment is through Maruti Suzuki Innovation Fund, targeting tech innovation.
• Amlgo Labs is Maruti's second tech investment after Sociograph Solutions.
• Maruti aims to use Amlgo's expertise to improve new model quality.
Maruti Suzuki India has invested more than Rs 1.99 crore into Amlgo Labs, a company focused on technology-driven solutions. With this investment, Maruti Suzuki will now own a stake of more than 6.44% in the startup.
The startup specializes in data analytics, cloud engineering, Machine Learning (ML), and Artificial Intelligence (AI), assisting businesses in making data-driven decisions.
Ajay Yadav, Founder of Amlgo Labs, stated, "Our relationship with Maruti Suzuki has proven profitable, allowing our company to enhance and scale its operations. We will be able to further enhance our offering by combining our expertise in Data Analytics, Machine Learning, and Artificial Intelligence solutions with Maruti Suzuki's mentorship and networking possibilities."
Maruti Suzuki made this investment through its Maruti Suzuki Innovation Fund, which aims to strategically invest in companies that exhibit significant technological innovation.
This is the OEM's second such investment. Before this, Maruti Suzuki India invested in Sociograph Solutions in June 2022.
Hisashi Takeuchi, MD & CEO of Maruti Suzuki India, stated, "We have been engaging with startups since 2019 as part of the Maruti Suzuki Innovation initiative. Aligned with the Government's #StartUpIndia strategy, we are actively striving to strengthen the startup ecosystem and stimulate innovation in order to develop solutions for the automotive industry. Our investment in Amlgo Labs will enable us to improve the quality of new models through advanced analytics and machine learning."
Amlgo Labs is a technology-driven company specializing in Advanced Analytics, Machine Learning, Artificial Intelligence, and Big Data solutions. With offices in Gurugram, Bangalore (India), and Delaware (USA), they’ve been offering data-driven insights to organizations since their inception in July 2017.
CMV360 Says
Maruti Suzuki's investment in Amlgo Labs shows they're serious about staying ahead in the automotive industry. By putting money into tech-savvy companies like Amlgo, Maruti wants to keep up with the latest trends in data analytics, cloud stuff, and AI. This move helps Maruti improve their vehicles and stay competitive. It's all about staying ahead and giving customers the best.