Cars24 AI Labs launches with USD 20 million plan to back AI startups and build AI-first products

Cars24 has launched a dedicated AI Labs unit and planned a USD 20 million investment. The pre-owned car buying and selling platform said the lab will build AI-first products. It will also support founders working on AI technology. Cars24 said funding will go to startups and teams developing new AI tools.

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The company said AI has become part of daily work across Cars24 in recent years. Cars24 said these systems help teams act faster and improve decisions. It also said AI has helped improve customer experience. The new lab will extend that work into product building and founder support.

Cars24 AI Labs investment plan and focus areas

Cars24 said AI Labs will work across three main areas. One area is building AI-native products and adding to open-source work. Another area is partnering with leading AI companies for faster adoption and experimentation. The third area is providing capital and support for startups building category-defining AI businesses.

Cars24 said the AI Labs model will combine funding with practical support. It listed mentorship, infrastructure, and distribution opportunities as part of the plan. Cars24 also said founders will get access to leading AI technologies. The company said the goal is to help ideas become working companies.

Cars24 AI Labs partners and founder support ecosystem

Cars24 said AI Labs brings partners into one ecosystem for builders. The company named OpenAI, AWS, and ElevenLabs as partners. Cars24 said this network will offer technology, expertise, and support. It said the aim is to help builders take new products to market with stronger backing.

"Every major technology shift creates a handful of companies that go on to define the future. We believe AI is the biggest shift of our generation, and the opportunity ahead is far larger than anything weve seen before,\" said Vikram Chopra, Founder and CEO, Cars24.

\"We want to back founders early, help them move faster, and support the people building things that seem impossible today but inevitable tomorrow,\" Chopra added.

Cars24 said the USD 20 million plan will be used for investments in startups and teams. The company said AI Labs will also work on in-house AI-first products. Cars24 said the lab will connect founders with partners and tools. The company said this approach is meant to support AI development and delivery.

With inputs from PTI