Ravity Receives ₹2 Cr Investment from Maruti Suzuki Innovation Fund The funding for Ravity is the third one under the Maruti Suzuki Innovation Fund, with prior investments of INR 2 crore each into Amlgo Labs Private Limited in March 2024 and Sociograph Solutions Private Limited in June 2022.
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Maruti Suzuki India Limited has announced an investment of nearly INR 2 crore in Ravity Software Solutions Private Limited, for an equity stake of over 7.84 per cent through its Maruti Suzuki Innovation Fund. Ravity Software Solutions is a technology-led startup that specializes in providing connected mobility insights.
Maruti Suzuki invests in startups through its investment arm, the Maruti Suzuki Innovation Fund, set up as 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.
The funding for Ravity is the third one under the Maruti Suzuki Innovation Fund, with prior investments of INR 2 crore each into Amlgo Labs Private Limited in March 2024 and Sociograph Solutions Private Limited in June 2022.
Hisashi Takeuchi, Managing Director and CEO, Maruti Suzuki India Limited, said, "Aligning to our core value of keeping the customer at the core of our business, we are focused on enhancing the vehicle ownership experience. In the age of open innovation, we strive to co-create business solutions with specialized entities operating in a particular field. 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. We have been associating with startups since 2019 under our Maruti Suzuki Innovation programs. Through this initiative, we are investing in a culture of innovation, building strategic partnerships, and unlocking new opportunities, in line with the Government's 'Startup India' initiative to promote entrepreneurship in the country."
Vikas Rungta, Founder, Ravity Software Solutions Private Limited, said, "It is an honour to be associated with an industry leader like Maruti Suzuki, whose name is synonymous with bringing personal mobility to millions in India as well as across the globe. An automobile major like Maruti Suzuki partnering with a startup speaks volumes about its forward-thinking mindset, humility, and openness to learn and collaborate to explore new ideas. With our excellence and expertise in AI, analytics, and mobility, we are committed to upholding the trust Maruti Suzuki has placed in us. We believe that the high complementarity of our strengths: Maruti Suzuki's scale of business and our agility and entrepreneurship, will further enhance customer experience and delight.
