Maruti Suzuki India has introduced an funding of round Rs 2 crore in Sociograph Solutions Private Limited, an organization that specialises in Artificial intelligence. The funding is a part of Maruti Suzuki’s MAIL initiative to assist startups with promising mobility options. The carmaker has acquired a 12.09 per cent stake within the startup and says that that is the primary funding made by way of the Maruti Suzuki Innovation Fund.
Maruti Suzuki plans to make use of the Visual Artificial Intelligence (AI) platform of SSPL referred to as Dave.AI, to reinforce the digital gross sales expertise of its prospects. Dave.AI was the winner of Cohort 2 of Maruti Suzuki’s Mobility & Automobile Innovation Lab (MAIL) program.
The Dave.AI know-how will supply 3D visualisation to reinforce the shopper expertise. The software program allows a real-time personalised product/model discovery expertise on the internet and drives enterprise effectivity.
Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki stated, “Maruti Suzuki is committed to empowering the mobility startup ecosystem in the country. Towards this, we have undertaken the ambitious MAIL program since 2019. Our investment in SSPL demonstrates our resolve toward improving business metrics using contemporary technology. The Maruti Suzuki Innovation Fund is set up to invest in early-stage startups which are part of Maruti Suzuki programs. We intend to encourage innovation and promote the entrepreneurial spirit of the startups. We strongly believe in the philosophy of ‘Innovate – Collaborate and Co-Create’ to develop solutions for the industry and society. Our endeavour to support the startup ecosystem in the country is aligned to the Government of India’s #StartupIndia initiative.”
Talking in regards to the funding, Sriram P. H., Co-founder & CEO, Dave.AI and Dr Ananth, Co-founder & CTO of Dave.AI stated, “We are fortunate to get associated with a market leader like Maruti Suzuki, at an early phase of our startup journey. This collaboration immensely helped us by not only validating our concepts but also learning and imbibing the skills that are required to scale up our operations in a sustainable manner. Post our collaboration with Maruti Suzuki under the MAIL program, we registered 300% growth in revenues and are on track to achieve USD 1 Million annual revenue milestone this financial year.”
Source: www.financialexpress.com”