Ola group's AI firm Krutrim has become the first artificial intelligence unicorn from India after it raised $50 million in a funding round led by Matrix Partners. What is an unicorn? Well, it is a privately-owned startup that is valued at over $1 billion.
“Krutrim, India's own AI company focused on building the complete AI computing stack, announced the successful closure of its first round of funding.
The funding round, led by prominent investors such as Matrix Partners India and others, garnered an investment of $50 million in equity at a valuation of $1 billion,” the company said.
Krutrim, an AI company focused on building the complete AI computing stack, aims to revolutionise the AI landscape and drive innovation globally.
The funds raised will be crucial in accelerating their mission, a report by news agency PTI said.
What the Ola founder has to say
Krutrim founder Bhavish Aggarwal said that the company has the ability to drive meaningful change out of India for the world.
“India has to build its own AI, and at Krutrim, we are fully committed towards building the country's first complete AI computing stack. We are thrilled to announce the successful closure of our first funding round, which not only validates the potential of Krutrim 's innovative AI solutions but also underscores the confidence investors have in our ability to drive meaningful change out of India for the world,” said Aggarwal.
Krutrim recently unveiled its base large language model (LLM) last month. With the largest representation of Indian data used for its training, Krutrim claims to power generative AI applications for all Indian languages.
The Krutrim family of LLMs includes Krutrim base and Krutrim Pro, offering advanced capabilities and technical advancements for inference. Krutrim last month announced that it will run an early access programme until January 2024 with a simple sign up page on the website.
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