DELHI, NEW DELHI: Maruti Suzuki India, the country’s largest carmaker, announced on Friday that it has invested roughly Rs 2 crore in Sociograph Solutions Pvt Ltd (SSPL), an artificial intelligence firm.
Maruti Suzuki India Ltd (MSIL) stated in a statement that the investment is part of the company’s MAIL initiative, which aims to promote entrepreneurs with new mobility solutions.
The startup intends to leverage SSPL’s Dave visual artificial intelligence (AI) platform. It claimed that AI would be used to improve its clients’ digital sales experience.
MSIL Managing Director & CEO Hisashi Takeuchi commented, “Our investment in SSPL illustrates our drive to improve company KPIs utilising contemporary technology.”
Since 2019, the company has been implementing the ambitious Mobility & Automobile Innovation Lab (MAIL) programme to strengthen the country’s mobility startup ecosystem.
He stated that the Maruti Suzuki Innovation Fund was established with the goal of investing in early-stage firms that are part of Maruti Suzuki programmes.
Takeuchi stated, “Our intention is to foster innovation and support the entrepreneurial spirit of startups.”
Sriram PH, Co-founder & CEO of Dave.AI, and Ananth, Co-founder & CTO of Dave.AI, noted that working with Maruti Suzuki has been extremely beneficial in terms of not just confirming the company’s concepts, but also learning and assimilating the skills needed to scale up operations in a sustainable manner.
“We registered a 300 percent increase in revenues following our collaboration with Maruti Suzuki under the MAIL programme, and we are on target to reach the USD 1 million annual revenue milestone this financial year,” they stated.
Dave.AI was the winner of MAIL’s Cohort 2 programme, which began in January 2019 with the goal of identifying and bringing together entrepreneurs with unique and cutting-edge solutions, and then collaborating to co-create technology-led solutions in the mobility and vehicle domain.
