Motor vehicle manufacturing company Maruti Suzuki India invested over ₹1.99 Crore ($238.4 million) in Amlgo Labs on Saturday, with the aim of working in the fields of artificial intelligence (AI), machine learning (ML), cloud engineering, and data analytics to support businesses in making data-driven decisions.
The carmaker said this is the second investment in a start-up as part of the government’s Start-Up India initiative, and Maruti Suzuki will own an equity stake of over 6.44% of the startup.
The investment is made through the Maruti Suzuki Innovation Fund, an initiative to conduct strategic investments in startups that demonstrate high levels of technological innovation, added the Wagon R owner.
“Our investment in Amlgo Labs will help us to further strengthen the quality of new models, using advanced analytics and machine learning,” said Hisashi Takeuchi, Chief Executive of Maruti Suzuki India.
Nutanix’s forecast research said AI and cloud computing are propelling organizations forward in multiple ways beyond IT. While the cloud computing market is expected to double in size to $947 billion by 2026, the AI market is expected to increase over fivefold to $309 billion, added the report.
Deloitte’s study found 70% of firms acquire AI capabilities through cloud-based software, while 65% develop AI applications utilizing cloud services.
Earlier this year, Maruti Suzuki India planned to invest in Gujarat for the development of a new automotive manufacturing plant that will begin operations from 2028 to 2029. Annual production capacity is expected to reach 1 million units, with a total investment of ₹350 billion.
At the point of conversion, $1= ₹83.48
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