Maruti Suzuki acquires around 8 pc in tech startup

New Delhi, Nov 21 (PTI) Maruti Suzuki India on Friday said it has acquired around 8 per cent stake in technology-led startup Ravity Software Solutions, which specialises in providing connected mobility insights.

The company has invested around Rs 2 crore in the startup for 7.84 per cent stake through Maruti Suzuki Innovation Fund.

The auto major invests in startups through the Maruti Suzuki Innovation Fund, an initiative to undertake strategic investments in startups that exhibit high levels of innovation and potential to devise solutions relevant to the company's operations.

This is the third investment under the fund with it having invested nearly Rs 2 crore each in Amlgo Labs in March 2024 and Sociograph Solutions in June 2022.

"Startups are ideal partners as they bring agility, fresh thinking, and cutting-edge solutions, to support our goal of ensuring customer delight. Our investment in Ravity Software Solutions Private Limited will enable us to elevate customer experience through data-driven insights," Maruti Suzuki India MD & CEO Hisashi Takeuchi said in a statement.

Ravity Software Solutions Founder Vikas Rungta said with the company's excellence and expertise in AI, analytics and mobility, it is committed to upholding the trust the automaker has placed in it.

Maruti Suzuki Shares on Friday were trading at 1.8 per cent up at Rs 16,083.20 apiece on the BSE. PTI MSS TRB