Maruti Suzuki acquires stake in machine learning & AI startup Amlgo Labs
Maruti Suzuki India has announced that the company has acquired a stake in machine learning and artificial intelligence-based start-up Amlgo Labs Private Limited. The automaker has invested ₹1.99 crore in the technology firm, which operates in the area of data analytics, cloud engineering, Machine Learning (ML) and Artificial Intelligence (AI). Amigo Labs assists companies in data-driven decision-making.
Maruti Suzuki will own an equity stake of 6.44 per cent in Amlgo Labs, the company said in a statement. The investment has been made through the Maruti Suzuki Innovation Fund, an initiative by the carmaker to undertake strategic investments in startups, which exhibit high levels of technological innovation.
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Speaking about the investment, Hisashi Takeuchi, Managing Director & CEO - Maruti Suzuki India, said, “We have been working with startups since 2019, as a part of the Maruti Suzuki Innovation program. 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. Our investment in Amlgo Labs Private Limited will help us to further strengthen the quality of new models, using advanced analytics and machine learning."
Ajay Yadav, Founder - Amlgo Labs, 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."
Previously, Maruti Suzuki invested in Sociograph Solutions Private Limited in June 2022. Meanwhile, Amigo Labs is based in Gurugram and Bengaluru in India and in Delaware, USA. The company began operations in 2017 and has been offering offering analytics-based solutions to organisations.
