The AI space is growing constantly, and within 4 years it has
increased 270%. Indeed, this makes sense for Droom to step into the artificial
intelligence space. Being an automobile marketplace and tech startup, Droom has
invested Rs 50-crore to set up a new AI lab.
The company revealed the plan after raising the fund of Rs 207 crore, which was
accumulated in its last funding round.
Droom is very active in its endeavor and planning to hire AI and ML
experts that can accomplish this plan and work in this innovation lab.
The endeavor aims to leverage AI with big data and machine learning.
Altogether, the overall planning
includes development of advanced technologies to boost up its marketplace
offerings and acquire a larger customer base. Droom is a leading internet
startup having more than 80% domination of online automobile transaction.
Indeed, the notion is profitable for Droom and developing artificial intelligence
capabilities will strengthen its market share. Earlier, its integrated platform
with its amazing ecosystem tools like credit, Eco, OBV and history. These all
are based on AI and machine learning tools with advanced functionalities.
Altogether, these are embedded with Dashboard,- a high-level feature that
provides customers a 360-degree delineation of a vehicle. They accomplish this
by scanning picture of its registered number plate and vehicle. At Droom's AI lab, experts are working on
dissimilar projects like Advance Alert System that notify customers about the
maintenance needs of cars by employing OBD Data.
Altogether, the company is involved in enhancing its engine system at AI Lab
for improved references. The company has hired many AI/ML experts and graduated
from IIT, NIT, and NSIT.
Earlier the company put forth its plan to create high-end advanced technology,
and now it is active and brings plans into process. The AI lab will speed up
the research and development of various new technologies in various areas. It
will boost up the improvements in recommended engine system for higher quality
references and customer alerting and more.
Indeed, AI technology is being rightly used and bring various advancement in
the space of autonomous cars. Actually, Droom strives to be the first company
to deal in the niche of product offering with AI.
The founder and CEO of Droom, Sandeep Agrawal said "Droom has now entered the fifth year of
its operations and has been building an integrated platform. Setting up our AI
lab is an integral part of the innovation. We at Droom are leveraging these to
create new products and revamp the existing ones, thereby catering to our
customer-base better."
It would be exciting to see how this company will transform the automotive
space and bring new solutions. To know more about it, STAY TUNED with Techugo.
