SoftBank-backed Cars24 has launched Cars24 Labs, an initiative focussed on building artificial intelligence (AI) products and backing early-stage founders, with a commitment of $20 million.
The Gurugram-based used car platform has partnered with OpenAI, Amazon Web Services (AWS), and ElevenLabs for this initiative. The idea behind it is to give founders access to capital, mentorship, infrastructure, and AI tools as they build new products.