Maruti Suzuki invests Rs 2 cr in AI startup Sociograph Solutions

The country's largest carmaker Maruti Suzuki India on Friday said it has invested around Rs 2 crore in Sociograph Solutions Pvt Ltd (SSPL), a startup specialising in artificial intelligence

Maruti Suzuki India
The investment is part of the company's MAIL initiative to support startups with promising mobility solutions, Maruti Suzuki India Ltd (MSIL) said in a statement.
Press Trust of India New Delhi
2 min read Last Updated : Jun 17 2022 | 1:48 PM IST

The country's largest carmaker Maruti Suzuki India on Friday said it has invested around Rs 2 crore in Sociograph Solutions Pvt Ltd (SSPL), a startup specialising in artificial intelligence.

The investment is part of the company's MAIL initiative to support startups with promising mobility solutions, Maruti Suzuki India Ltd (MSIL) said in a statement.

The company plans to use the visual artificial intelligence (AI) platform of SSPL called Dave.AI, with an aim to enhance the digital sales experience of its customers, it added.

"Our investment in SSPL demonstrates our resolve towards improving business metrics using contemporary technology," MSIL Managing Director & CEO Hisashi Takeuchi said.

The company has undertaken the ambitious Mobility & Automobile Innovation Lab (MAIL) programme since 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 which are part of Maruti Suzuki programmes, he added.

"Our intent is to encourage innovation and promote the entrepreneurial spirit of startups," Takeuchi said.

Dave.AI Co-founder & CEO Sriram PH and Co-founder & CTO Ananth said the collaboration with Maruti Suzuki immensely helps by not only validating the company's concepts, but by also 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 per cent growth in revenues and are on track to achieve USD 1 million annual revenue milestone this financial year," they said.

Dave.AI was the winner of Cohort 2 of MAIL programme, which was launched in January 2019 to identify and bring together startups with innovative and cutting-edge solutions, and further collaborate to co-create technology led solutions in mobility and automobile space.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Artificial intelligenceMaruti Suzukistartups in India

First Published: Jun 17 2022 | 1:48 PM IST

Next Story