Maruti Suzuki India Ltd (MSIL), India’s largest Carmaker company has invested Rs. 2 crore in AI based Sociograph Solutions Pvt Ltd (SSPL).
Maruti Suzuki India Limited (MSIL) said in a statement that this investment is part of the company’s MAIL initiative, which supports startups with promising mobility solutions.
Through this investment, MSIL plans to use SSPL’s Visual Artificial Intelligence (AI) platform called Deve.AI with an aim to enhance the digital sales experience of its customers.
Read also – [Funding alert] Insurtech Startup Pazcare raises $8.2 mn in Series A round
“Our investment in SSPL demonstrates our resolve towards improving business metrics using contemporary technology,” Hisashi Takeuchi, Managing Director & CEO of MSIL.
MSIL has launched the ambitious Mobility and Automobile Innovation Lab (MAIL) program from 2019 to empower the mobility startup ecosystem in the country.
Hisashi said that the Maruti Suzuki Innovation Fund has been set up with the objective of investing in early stage startups that are part of Maruti Suzuki’s programs.
“Our intent is to encourage innovation and promote the entrepreneurial spirit of startups,” he added.
Dave.AI’s Co-founders Sriram PH (CEO) and Ananth (CTO) said that the collaboration with Maruti Suzuki not only helps in validating the company’s concepts but also helps in learning and assimilation of skills which will help in scaling up operations in a sustainable manner.
Read also – [Funding alert] Kytchens raises funds of 6.5 Crore Equity from Anicut Capital and other marquee investors
“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 added.
Dave.AI was launched in January 2019, Through AI technology that mimicking the human sales brain, it provides industry 3D visualizations that help enhance the customer experience.
Analyzing the customer journey, this AI software also enables a real-time personalized product/brand search experience on the web and increases efficiency in the business.
It was also the winner of Cohort 2 of MAIL Program of Maruti Suzuki.
DaveAI is an AI-powered sales augmentation platform that helps brands drive sales with improved and interactive product discovery experiences using a Virtual Sales Avatar that mimics a human sales brain. DaveAI bridges the gap between self-assisted online discovery & salesperson-assisted offline discovery.
Read also – [Funding alert] G.O.A.T Brand Labs raises $50 mn in Series A1 round
DaveAI’s platform uses patent pending deep neural networks & an online learning genetic algorithm to unearth multi-dimensional affinities between prospects, products & customers. DaveAI’s flexible data model helps leverage silo’ed data across the Enterprise to learn unique customer journeys and predict the next best interaction for brands to nudge the prospects take a positive step favorable to business.
DaveAI today Boosts Sales for Retail and BFSI Enterprises.