July 12, 2024

Krutrim AI: India’s New $50M Tech Unicorn

The Krutrim AI logo against a background of AI technology like machine learning and neural networks.

The AI race is heating up globally, and India now has its first homegrown participant galloping ahead. Krutrim AI, founded by famed entrepreneur Bhavish Aggarwal of Ola Electric, just entered the coveted unicorn club with a $50 million funding round.

This propels Krutrim into an elite group of privately-held startups valued at over $1 billion. With artificial intelligence exploding worldwide, Krutrim is positioned to ride the AI wave as investors bet big on its potential.

Krutrim’s funding round was led by top VC firm Matrix Partners India. This is the second time Matrix is backing Aggarwal’s vision after previously investing in Ola Electric .Aggarwal aims to build India’s first complete AI stack at Krutrim.
Its AI model is designed to execute tasks in 10 Indian languages, outperforming global giants like Google and Meta in local language comprehension.

Krutrim seems poised to disrupt India’s nascent but rapidly growing AI sector. With the global AI arms race intensifying as Microsoft, Amazon and Google pour billions into the space, India also wants a seat at the table.

Krutrim’s entry as a potential AI trailblazer coincides with the launch of chatbots like Google Bard, Meta BlenderBot and Microsoft Sydney. With its focus on Indian languages, Krutrim could gain an edge in one of the world’s fastest growing AI markets.

Aggarwal is on a unicorn-founding spree. Krutrim joins his two other smash hits – ride-hailing firm Ola Cabs and electric vehicle maker Ola Electric – in crossing the billion-dollar valuation mark.
Clearly, he has the golden touch when it comes to launching market-leading startups.

As artificial intelligence seeps into everything from healthcare to education and finance, Krutrim has charted a bold course to shape India’s AI future. Its rousing funding success signals investors’ confidence that Krutrim could take pole position in the country’s unfolding AI marathon.