Used-car marketplace Cars24 has launched AI Labs, a dedicated initiative aimed at building AI-first products, supporting founders and accelerating innovation in artificial intelligence, while committing $20 million in investments for startups and teams developing transformative AI technologies.
The company said AI Labs will serve as a platform for founders, researchers and builders, offering access to capital, mentorship, infrastructure, distribution opportunities and advanced AI tools to help turn breakthrough ideas into scalable businesses.
AI becomes central to Cars24’s operating model
Cars24 said artificial intelligence has evolved from an experimental technology into a core component of its business operations over the past few years.
The company has embedded AI across multiple functions to improve decision-making, enhance customer experiences and accelerate product development. What started as experimentation has now become a key operating philosophy influencing how products are built, problems are solved and businesses are scaled.
With the launch of AI Labs, Cars24 is extending those learnings to the broader startup ecosystem.
Partnerships with OpenAI, AWS and ElevenLabs
The initiative brings together leading AI ecosystem partners, including OpenAI, Amazon Web Services (AWS) and ElevenLabs.
According to the company, these partnerships will provide startups with access to cutting-edge AI technologies, technical expertise and resources required to bring innovative products to market faster.
Focus on building, partnering and investing
AI Labs will operate across three strategic pillars. Under the Build pillar, the initiative will focus on creating AI-native products and contributing to open-source innovation.
Through Partner, Cars24 plans to collaborate closely with leading AI companies to drive experimentation and adoption of emerging technologies.
The Invest vertical will provide funding and operational support to startups building category-defining AI businesses.
Cars24 aims to back next generation of founders
Cars24 Founder and CEO Vikram Chopra said AI represents the most significant technology shift of the current generation and presents opportunities larger than any seen before.
He noted that AI has fundamentally changed how the company operates, develops products and serves customers, adding that AI Labs is intended to support entrepreneurs building the next generation of transformative companies.
Community initiatives to strengthen AI ecosystem
Beyond investments, AI Labs plans to support the broader AI community through hackathons, builder programmes, open-source projects and community-led initiatives designed to encourage experimentation and accelerate innovation.
Cars24 said it believes the next wave of globally significant companies will be created by founders who embrace AI from the outset, and AI Labs is intended to help those entrepreneurs scale faster and succeed in increasingly AI-driven markets.