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06 JANUARY 2017 AL CIRCLE

Jindal Aluminium plans to fund AI focused start-ups

EDITED BY : HEENA IQBAL 2MINS READ

Jindal Aluminium Ltd (JAL), the leading manufacturer of aluminium extruded profiles in India, announced that the company plans to invest upto INR 30 crores in AI focused start-ups for first-rate investment prospects.  With the emergence of AI based technology start-ups in the last two years, JAL plans to invest start-ups focussed on developing technology for improving manufacturing operations through automation.

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JAL is interested to fund AI based start-ups that mostly concentrates on two areas- streamlining the manufacturing operations or in helping to improve B2B customer relations; along with start-ups which can enhance corporate services like HR and auditing/fraud detection.  Their intention is to invest into a range of varied technologies that improve on areas that are related to JAL’s operations. JAL is planning to bring about synergies by adopting the technologies it invests in by implementing it across its manufacturing units.

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Managing Director of Jindal Aluminium Ltd (JAL), Pragun Jindal, said “Based on what I have seen so far, there are some excellent ideas and developments in the start-up world which are focused on manufacturing. I think the biggest driving force for conglomerates such as ours to fund start-ups, is the opportunity to be in tune with the latest developments and technologies in India and globally as well”.

Jindal Aluminium Ltd. was formed in 1968, the only aluminium company in India having 11 aluminium extrusion presses in India with highest production in the country.

Tagged with:

Aluminium Technology India

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EDITED BY : HEENA IQBAL 2MINS READ

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