Cars24 launches Cars24 Labs with $20 million to build AI capabilities
Business
Cars24, the used car marketplace, is going all-in on artificial intelligence with a $20 million investment through its new Cars24 Labs.
Vikram Chopra calls it "This is the biggest bet we've made as a company," as they aim to build smarter tech, partner with top AI players like OpenAI, and support early-stage startups.
CARS24 partners with OpenAI, ElevenLabs, AWS
Cars24 Labs will fund and support early-stage AI startups, teaming up with OpenAI, ElevenLabs, and AWS.
Thanks to their AI upgrades, car inspection times have dropped from an hour to just 15 minutes, making things way faster and more efficient.
Financially, they've cut losses by over half and hit their first profitable quarter as they gear up for a public listing in India.