India-based auto marketplace CarTrade Tech has launched CarTrade Labs, an innovation hub that will focus on harnessing generative AI and data science to unlock growth opportunities.
“It [CarTrade Labs] has been envisioned as a high-impact initiative that will harness the power of generative AI, data science and rapid experimentation to accelerate innovation and unlock new growth opportunities across CarTrade Tech’s ecosystem, including CarWale, BikeWale, OLX India and Shriram Automall,” the company stated in a news release.
CarTrade said the innovation hub would work closely with these verticals to ensure real-world application and measurable impact. Its initial areas of focus will include AI-powered dealer management systems, pricing intelligence engines and chatbots.
CarTrade Lab will also explore opportunities to collaborate with startups, academic institutions and technology providers globally.
“With CarTrade Labs, we’re laying the foundation for the next decade of innovation in mobility and commerce. It’s a platform to reimagine, build and scale world-class technology that creates real impact for consumers, dealers and the ecosystem. It will give us the edge to continuously reinvent ourselves, build transformative products and stay at the forefront of the industry,” commented Varun Sanghi, president of CarTrade Tech.
CarWale, BikeWale, and OLX India, each clocked more than 150 million annual unique users in 2024, according to the company.
OLX India — which was acquired by CarTrade Tech in August 2023 — grew its profit by 72% year on year (y-o-y) to INR525 million ($6.1 million U.S.) in the 12 months to March 2025 (FY24-25).
Founded in 2009, CarTrade Tech has more than 500 brick-and-mortar stores nationwide through its Shriram Automall and CarWale AbSure outlets, as well as its OLX India franchises. Its consolidated operating revenue grew by 30.8% y-o-y to INR6.4 billion in FY24-25.
