Bhavish Aggarwal, the founder of Ola, one of India's leading ride-hailing companies, has revealed his achievement in the realm of artificial intelligence (AI). His AI startup, Krutrim, has successfully secured $50 million in funding, propelling the company to a remarkable $1 billion valuation.
This milestone establishes Krutrim as India's premier AI unicorn, marking a pivotal moment in the country's tech sector.
Aggarwal revealed that Krutrim's latest funding round, which garnered $50 million from investors including Matrix Partners India, has propelled the company to unicorn status merely a month after its inception as a large language AI model.
Krutrim, derived from the Sanskrit word for "artificial," is prepared to revolutionize the AI ecosystem in India.
Krutrim is not only focused on securing financial backing but is also actively engaged in infrastructure development. The company has outlined plans to establish data centers across India, with a vision to foster the creation of supercomputers tailored for AI applications. This strategic initiative underscores Krutrim's commitment to fueling technological innovation on a national scale.
In a blog post, Krutrim announced its forthcoming endeavors, including the rollout of a beta version of its eponymous chatbot for consumers next month. Additionally, the company plans to introduce Application Programming Interfaces (APIs) to cater to developers and enterprises in the near future, facilitating broader accessibility to its AI solutions.
It is noteworthy that Matrix Partners India, a key investor in Krutrim's latest funding round, has previously supported two other startups founded by Bhavish Aggarwal - Ola and Ola Electric. The firm's continued endorsement reflects confidence in Aggarwal's entrepreneurial vision and Krutrim's potential to drive meaningful innovation in the global AI landscape.
Expressing his excitement about the funding milestone, Aggarwal remarked, "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."
With ambitious plans for expansion and innovation, Krutrim is set to chart new frontiers in AI-driven transformation, both domestically and globally
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