Automobile major Maruti Suzuki acquires 6.4% stake in AI startup Amlgo for Rs 1.99 crore

Indian automobile company Maruti Suzuki has acquired a 6.44% stake in the Delhi NCR-based AI startup AmIgo Labs for Rs 1.99 crore or around $238K.

The investment was facilitated through the Maruti Suzuki Innovation Fund, which is aimed at fostering technological innovation within startups.

The acquisition, which is expected to be completed by June, marks Maruti Suzuki's continued investment in the AI sector, following a previous investment in Sociograph Solutions Pvt Ltd.

Leveraging AI for automotive excellence

The investment in AmIgo Labs is set to enhance Maruti Suzuki's capabilities in making data-driven decisions, which is a crucial aspect for the automotive industry's future.

AmIgo Labs, known for its prowess in analytics, cloud engineering, machine learning, and AI, will assist Maruti Suzuki in refining the quality of new models through advanced analytics and machine learning techniques.

AmIgo Labs highlights mutual benefits 

Ajay Yadav, the founder of AmIgo Labs, highlighted the mutual benefits of this partnership. He emphasized that Maruti Suzuki's mentorship and networking opportunities would enable AmIgo Labs to augment and scale up its operations. This collaboration is expected to refine AmIgo Labs' offerings, leveraging their expertise in data analytics and AI-based solutions.

The investment comes at a time when the GenAI sector in India is witnessing rapid growth. With the Indian government increasing its focus on AI adoption and the recent approval of the IndiaAI Mission, the country is poised to spearhead AI transformation globally.