Maruti Suzuki Contributes ₹1.99 Crore To Amlgo Labs, an AI and Machine Learning Firm, To Own 6.44% Equity

Maruti Suzuki Contributes ₹1.99 Crore To Amlgo Labs, an AI and Machine Learning Firm, To Own 6.44% Equity

On Saturday, March 23, Maruti Suzuki announced that it has contributed more than ₹1.99 crore to the technology-driven firm Amlgo Labs Private Ltd. The automaker announced that it will have a greater than 6.44% equity position in the business.

Amlgo Labs helps businesses make data-driven decisions by working in the fields of cloud engineering, data analytics, artificial intelligence, and machine learning.

The investment is being made through the Maruti Suzuki Innovation Fund, an attempt to make strategic investments in businesses that demonstrate high levels of technological innovation, the company said in a stock exchange filing. In June 2022, the business had previously made an investment in Sociograph Solutions Private Ltd.

Maruti Suzuki’s managing director and CEO, Hisashi Takeuchi, stated, “Our investment in Amlgo Labs Private Ltd will help us further strengthen quality of new models, using advanced analytics and machine learning.”

Ajay Yadav, the founder of Amlgo Labs, stated that the firm has benefited from the partnership with Maruti, which has allowed it to grow and expand its operations. “Combining our expertise in Data Analytics, Machine Learning and Artificial Intelligence based solutions, with mentorship and networking opportunities offered by Maruti Suzuki, we will be able to further refine our offering,” Yadav stated.

In addition, Maruti Suzuki, which was around half the size of its Japanese parent, Suzuki Motor Corp., a decade ago, has risen to twice the size of its parent company and surpassed it in market capitalization. According to Bloomberg data, as of Friday, Maruti Suzuki, the biggest carmaker in the nation, had a market capitalization of $46.9 billion, compared to Suzuki’s $22.1 billion market cap. In January 2015, Maruti’s market capitalization first surpassed that of its parent company.

On Friday, March 22, Maruti Suzuki shares closed 3.32% higher at ₹12,304 a share. Over the last year, the stock has increased by 47.3%.