Maruti Suzuki Acquires 6.4% Stake in AI Startup Amlgo for Rs 1.99 Crore
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Indian automobile giant Maruti Suzuki has purchased a 6.44% stake in Delhi NCR-based AI startup AmIgo Labs for Rs 1.99 crore. The investment, facilitated through the Maruti Suzuki Innovation Fund, aims to drive technological innovation in startups. This acquisition, expected to finalize by June, underscores Maruti Suzuki's commitment to AI, following a previous investment in Sociograph Solutions Pvt Ltd.Key Points:
- Maruti Suzuki acquires 6.44% stake in Delhi NCR-based AI startup AmIgo Labs for Rs 1.99 crore.
- Investment made through the Maruti Suzuki Innovation Fund to foster innovation in startups.
- Acquisition expected to be completed by June, showcasing Maruti Suzuki's continued interest in AI.
- Partnership with AmIgo Labs aims to enhance data-driven decision-making capabilities in automotive industry.
- AmIgo Labs renowned for analytics, cloud engineering, machine learning, and AI expertise.
- Collaboration to refine new model quality through advanced analytics and machine learning techniques.
- Founder of AmIgo Labs highlights mutual benefits, anticipating scale-up opportunities with Maruti Suzuki's mentorship.
- Investment reflects India's growing focus on AI adoption, aligned with government initiatives like IndiaAI Mission.