This is how much Cars24 is investing in its AI Labs

Used car platform Cars24 on Monday announced the launch of AI Labs, a dedicated initiative focused on building AI-first products, supporting founders and helping shape the next wave of AI innovation.

As part of this commitment, the company will invest $20 million in startups and teams building transformative AI technologies.

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."

Over the last few years, AI has become deeply embedded across the company's operations, helping teams move faster, make better decisions and create better customer experiences, the used car platform said. “What began as experimentation has evolved into a core operating philosophy, influencing how products are built, problems are solved, and businesses are scaled. With AI Labs, Cars24 is taking that journey beyond its own walls,” it said.