Maruti Suzuki India Ltd. has invested around Rs 2 crore in Sociograph Solutions Pvt. Ltd., a startup specialising in artificial intelligence.
The investment is part of the company's MAIL initiative to support startups with promising mobility solutions. India's largest carmaker by sales plans to use Sociagraph Solutions' visual AI platform called Dave.AI to enhance the digital sales experience of its customers.
"Our investment in SSPL demonstrates Maruti's resolve towards improving business metrics using contemporary technology," said Hisashi Takeuchi, managing director and chief executive of Maruti Suzuki India Ltd., in a statement.
Maruti Suzuki launched its Mobility & Automobile Innovation Lab program in 2019 to empower the mobility startup ecosystem in the country. The Maruti Suzuki Innovation Fund has been set up with an aim to invest in early-stage startups part of Maruti Suzuki programmes.
"Our intent is to encourage innovation and promote the entrepreneurial spirit of startups," Takeuchi said.
According to Dave.AI co-founders Sriram PH and Ananth, the collaboration with Maruti Suzuki immensely helps by not only validating the company's concepts, but also by learning and imbibing the skills that are required to scale up operations in a sustainable manner.
"Post our collaboration with Maruti Suzuki under the MAIL programme, we registered 300% growth in revenues and are on track to achieve $1 million annual revenue milestone this financial year," they said.
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