Gurugram, June 1: Cars24 today announced the launch of AI Labs, an initiative which will involve investment $20 million in startups and teams building transformative AI technologies.
The initiative will focus on building AI-first products, supporting ambitious founders and helping shape the next wave of AI innovation, according to a statement issued by the company.
AI at Cars24
The company said the AI, over the years, has become deeply embedded across its operations, helping teams move faster, make better decisions and create better customer experiences.
What began as experimentation has evolved into a core operating philosophy, influencing how products are built, problems are solved and businesses are scaled, it said.
With AI Labs, Cars24 is taking that journey beyond its own walls.
The initiative is designed to help founders and builders turn breakthrough ideas into real-world companies.
Through a combination of capital, mentorship, infrastructure, distribution opportunities, and access to leading AI technologies, AI Labs aims to become a launchpad for the next generation of AI entrepreneurs.
The initiative brings together partners including OpenAI, AWS, and ElevenLabs, creating an ecosystem where builders can access world-class technology, expertise, and support as they bring new 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, and the opportunity ahead is far larger than anything we’ve seen before,” said Vikram Chopra, Founder and CEO, Cars24.
“Over the last few years, we’ve seen AI fundamentally change how we operate, build products, and serve customers AI Labs is our way of giving back to the ecosystem that is shaping this future. We want to back founders early, help them move faster, and support the people building things that seem impossible today but inevitable tomorrow.”
AI Labs will focus on three key areas:
- Build: Creating AI-native products and contributing to open-source innovation.
- Partner: Working closely with leading AI companies to accelerate adoption and experimentation.
- Invest: Providing capital and support to startups building category-defining AI businesses.
Beyond investments, AI Labs will actively contribute to the broader AI ecosystem through hackathons, builder programs, community initiatives and open-source projects aimed at accelerating innovation and encouraging experimentation.
About Cars24
Cars24 was founded in 2015 and offers services such as buying, selling, loans, insurance, servicing and more in the automobile sector.
