Ola's AI Firm Krutrim Turns Unicorn With $50 Million Fundraise
The funds will be used to accelerate the company's mission to revolutionize the AI landscape, drive innovation, and expand its reach globally.
Ola Founder Bhavish Aggarwal-led Krutrim has become India's first AI unicorn after raising $50 million at a $1 billion valuation.
The firm announced the successful closure of its first round of funding in a statement on Friday. The round was led by "prominent investors such as Matrix Partners India and others," it said.
"This landmark achievement marks a significant milestone not only for the company but also for the Indian tech ecosystem, as Krutrim becomes the country's fastest unicorn and also India’s first AI company to attain unicorn status," it said.
The funds will be used to accelerate the company's mission to revolutionise the AI landscape, drive innovation, and expand its reach globally.
In December, Krutrim was unveiled in Bengaluru as a startup focused on building a full-stack, India-focused artificial intelligence company.
Krutrim will be involved in building AI chips, a family of large language models and a user-facing app. It also unveiled an eponymous base large language model, which is trained in over 20 Indian languages and can respond to about 10 of them.
Krutrim has currently launched a ChatGPT-like chatbot for early access. "We will build for enterprises and consumers both, going ahead," Aggarwal said then.
The data being fed into Krutrim as an LLM will be from proprietary datasets, data partnerships and other open platforms. Krutrim will also be building India's first AI supercomputer, on top of its own infrastructure capabilities.
