Brands
Cars24 launches AI Labs, commits $20 million for AI startups
Initiative will back founders with funding, mentorship and tech support
MUMBAI:The engine is warming up and this time, it’s powered by algorithms rather than automobiles. Cars24 has launched AI Labs, a dedicated initiative aimed at building AI-first products, backing founders and accelerating the next wave of artificial intelligence innovation, with a commitment to invest $20 million in startups and teams developing transformative AI technologies. The move marks a significant expansion of the company’s AI ambitions beyond its core business. Having increasingly integrated artificial intelligence across its own operations in recent years, Cars24 is now looking to help other builders turn breakthrough ideas into scalable businesses.
The company said AI has evolved from an experimental tool to a central operating philosophy, influencing everything from product development and decision-making to customer experience and business growth.
With AI Labs, Cars24 plans to offer more than just capital. The platform will provide founders access to mentorship, infrastructure, distribution opportunities and advanced AI technologies, creating what the company hopes will become a launchpad for the next generation of AI entrepreneurs.
To strengthen the ecosystem, AI Labs is partnering with industry players including OpenAI, AWS and ElevenLabs, giving startups access to technology, expertise and resources as they bring products to market.
“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,” said Cars24 founder and CEO Vikram Chopra.
AI Labs will focus on three key pillars: building AI-native products and contributing to open-source innovation, partnering with leading AI companies to accelerate experimentation and adoption, and investing in startups developing category-defining AI businesses.
Beyond funding, the initiative will support hackathons, builder programmes, community-led projects and open-source contributions designed to encourage experimentation and speed up innovation across the broader AI ecosystem.
As artificial intelligence reshapes industries at an unprecedented pace, Cars24 is betting that the next generation of globally significant companies will be founded by entrepreneurs who build with AI at the core from day one. With AI Labs, the company is positioning itself not just as a participant in that shift, but as one of its early enablers.
