Cars24 has launched Cars24 Labs with a US$20 million commitment to support early-stage AI founders.

The initiative will provide capital, mentorship, infrastructure, and AI tools.

Cars24 said the initiative will build and back AI products while helping founders access cloud infrastructure, language and voice models, and technical expertise through OpenAI, Amazon Web Services, and ElevenLabs.

The launch comes as Cars24 prepares for an initial public offering and faces leadership changes.

The company said in January that the company planned to go public by the end of the year. Cars24 said in May that adjusted net revenue rose 27% year on year to 14.1 billion rupees (US$148 million) in FY26.

The company has also seen several leadership changes ahead of its planned IPO.

🔗 Source: The Economic Times

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