23 March 2024 – Maruti Suzuki, a key player in the Indian automotive industry, has announced a substantial investment of over ₹1.99 crore in Amigo Labs Private Ltd, a startup specializing in cloud engineering, data analytics, artificial intelligence, and machine learning. Through its Maruti Suzuki Innovation Fund, the company aims to bolster its technological capabilities by strategically investing in startups at the forefront of innovation.
The investment solidifies Maruti Suzuki’s commitment to leveraging cutting-edge technologies to enhance the quality of its new models. Hisashi Takeuchi, the Managing Director and CEO of Maruti Suzuki, expressed confidence that the collaboration with Amigo Labs will empower the company to integrate advanced analytics and machine learning into its product development processes.
Ajay Yadav, the founder of Amigo Labs, welcomed the partnership with Maruti Suzuki, highlighting the invaluable mentorship and networking opportunities provided by the automotive giant. By combining their expertise in data analytics and AI solutions, the collaboration aims to refine and expand Amigo Labs’ offerings, further driving innovation in the automotive sector.
In addition to its investment in Amigo Labs, Maruti Suzuki’s remarkable growth trajectory is evident in its market valuation, which now surpasses that of its parent company, Suzuki Motor Corp. With a market capitalization of $46.9 billion, Maruti Suzuki has emerged as a dominant force in the Indian automotive market, reflecting a significant 47.3% gain in its stock price over the past year.
