Maruti Suzuki Invests ₹1.99 Crore in Tech Startup Amlgo Labs

26 Mar 2024 , 10:52 AM

Maruti Suzuki announced an investment exceeding ₹1.99 Crore in technology startup Amlgo Labs Private Ltd on March 23. With this investment, Maruti Suzuki will hold an equity stake of over 6.44% in Amlgo Labs.

Amlgo Labs specializes in cloud engineering, data analytics, artificial intelligence, and machine learning, aiding companies in data-driven decision-making processes.

The investment is facilitated through the Maruti Suzuki Innovation Fund, aimed at strategic investments in startups showcasing high levels of technological innovation.

Maruti Suzuki previously invested in Sociograph Solutions Private Ltd in June 2022.

Hisashi Takeuchi, Maruti Suzuki’s Managing Director and CEO, stated that the investment in Amlgo Labs will enhance the quality of new models through advanced analytics and machine learning.

Amlgo Labs founder, Ajay Yadav, noted the fruitful collaboration with Maruti Suzuki, facilitating the startup’s augmentation and scaling of operations.

Maruti Suzuki has not only surpassed its parent company, Suzuki Motor Corp, in market valuation but has also doubled in size over the past decade.

Maruti Suzuki’s market capitalization stands at $46.9 billion, surpassing Suzuki’s $22.1 billion, according to Bloomberg data.

“Our investment in Amlgo Labs Private Ltd will enhance our ability to enhance the quality of new models by leveraging advanced analytics and machine learning,” stated Hisashi Takeuchi, the Managing Director and CEO of Maruti Suzuki.

Ajay Yadav, the founder of Amlgo Labs, expressed satisfaction with the collaboration with Maruti, noting its positive impact on the startup’s growth and scalability. “By combining our expertise in Data Analytics, Machine Learning, and Artificial Intelligence with the mentorship and networking opportunities provided by Maruti Suzuki, we aim to further refine our offerings,” Yadav added.

Maruti Suzuki shares closed 1.20% lower at ₹12,192.50 apiece on March 26.

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