Used-car marketplace Cars24 has announced a $20 million investment in artificial intelligence and launched Cars24 Labs, a dedicated build, partner, and investment arm aimed at accelerating AI innovation across the company and the broader startup ecosystem.

Founder and CEO Vikram Chopra described the initiative as the company’s “biggest bet” yet, emphasizing the transformative impact AI will have on businesses over the next few years. He revealed that he personally spends eight to ten hours daily working with AI technologies.

Cars24 Labs will collaborate with leading AI companies, including OpenAI, ElevenLabs, and Amazon Web Services (AWS), while also developing proprietary AI products, releasing open-source models, and supporting early-stage AI startups through investments and incubation.

The company recently hosted Token’26, its first AI-focused hackathon, which attracted more than 1,000 applicants. Around 100 participants were selected for a 72-hour innovation sprint to build AI-powered solutions.

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Jayesh Gupta will lead the scientific research and innovation efforts at Cars24 Labs. Chopra also introduced “Flatland,” a new organisational model where AI manages coordination tasks, allowing employees to focus on a single role: Builder.

With this investment, Cars24 aims to position itself at the forefront of India’s rapidly evolving AI ecosystem.

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