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With this, Maruti Suzuki will own an equity stake of over 6.44 per cent in the startup, the automaker informed stock exchanges on Saturday.
The investment is being made through the Maruti Suzuki lnnovation Fund, an initiative to undertake strategic investments in startups which exhibit high levels of technological innovation.
This is the second such investment the company. Earlier, the company invested in
“We have been working with startups since 2019, as a part of the Maruti Suzuki lnnovation Program. Aligned with the government’s Start Up India initiative, we are actively working to help strengthen the startup ecosystem and encourage innovation to develop solutions relevant to the automobile industry,” HisashiTakeuchi, Managing Director and CEO, Maruti Suzuki India.
“Our investment in Amlgo Labs Private Limited will help us to further strengthen quality of new models, using advanced analytics and machine learning,” Takeuchi added.
According to
Started its journey in July 2017, the startup firm has offices in Gurugram and Bengaluru in lndia and Delaware in the US.
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