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Maruti Suzuki India Ltd (MSIL) on Friday said it has invested Rs. 2 crore in Sociograph Solutions (SSPL) as part of its Mobility & Automobile Innovation Lab (MAIL) initiative to support start-ups with promising mobility solutions.
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.
“Maruti Suzuki is committed to empowering the mobility startup ecosystem in the country. Towards this, we have undertaken the ambitious MAIL programme since 2019. Our investment in SSPL demonstrates our resolve towards improving business metrics using contemporary technology," Hisashi Takeuchi, Managing Director and Chief Executive Officer, MSIL said.
The Maruti Suzuki Innovation Fund is set up with an aim to invest in early-stage startups which are part of Maruti Suzuki programmes, he said.
"Our intent is to encourage innovation and promote the entrepreneurial spirit of startups. We strongly believe in the philosophy of ‘Innovate – Collaborate and Co-Create’ to develop solutions for industry and society. Our endeavour to support the startup ecosystem in the country is aligned to the government's StartupIndia initiative," Takeuchi added.
Through AI technology mimicking a human sales brain, the Dave.AI virtual avatar offers industry 3D visualisation which helps enhance customer experience. Analysing the customer journey, the software enables real-time personalised product/ brand discovery experience on the web and drives efficiency in business.
Dave.AI was the winner of Cohort 2 of Maruti Suzuki’s MAIL programme.
"This collaboration helped us by not only validating our concepts, but also learning and imbibing the skills that are required to scale up our operations. Post our collaboration with Maruti Suzuki under the MAIL programme, we registered 300 per cent growth in revenues and are on track to achieve the $1-million annual revenue milestone this financial year," Sriram P. H., Co-founder and CEO, Dave.AI, said.
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