India’s largest car manufacturing company Maruti Suzuki India invested INR 2 crore (approximately USD 2.6 million) in Sociograph Solutions. The announcement came on June 17, 2022. Sociograph Solutions Pvt Ltd. (SSPL) is Bangalore, India-based startup that specializes in artificial intelligence.
Purpose of Investment by Maruti Suzuki
With the recent investment, Maruti Suzuki will get access to the Visual Artificial Intelligence (AI) platform of SSPL called Dave.AI. The car manufacturing company wants to enhance the digital sales experience of its customers.
The investment is part of Maruti Suzuki’s Mobility & Automobile Innovation Lab (MAIL) initiative. The initiative’s purpose is to support startups with promising mobility solutions. Maruti Suzuki set up MAIL in 2019.
Besides, the company established the Maruti Suzuki Innovation Fund. The aim is to invest in early-stage startups which are part of its programmes.
What the officials of Suzuki have to say–
Hisashi Takeuchi, Managing Director and CEO, Maruti Suzuki, said, “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 to improve business metrics using contemporary technology. The Maruti Suzuki Innovation Fund is set to invest in early-stage startups which are part of Maruti Suzuki programmes. Our intent is 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 aligns with the Government of India’s #StartupIndia initiative.”
What the co-founder of Dave.AI has to say–
Sriram P H, Co-founder and CEO, Dave.AI, and Ananth, Co-founder and CTO, Dave.AI, said, “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.”
About Dave.AI platform by Sociograph Solutions
Dave.AI is the visual artificial intelligence platform of Sociograph Solutions. It’s AI technology mimics a human sales brain. Its mimicking technology offers 3D visualization that enhances the customer experience. Meanwhile, it analyzes a customer’s journey. Through the analysis, Dave.AI enables a real-time personalized product/brand discovery experience on the web and drives business efficiency. Dave.AI also won the Cohort 2 of Maruti Suzuki’s Mobility & Automobile Innovation Lab (MAIL) program.
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