Ola Krutrim Becomes India’s First AI Startup To Hit $1-Billion; Details Here – News18

Krutrim, the AI startup founded by Ola founder Bhavish Aggarwal, has become India’s first artificial intelligence (AI) startup to touch $1 billion. Krutrim has become unicorn after securing $50 million in investors including Matrix Partners India.

“India’s own AI company focused on building the complete AI computing stack, today 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,” Ola Krutrim said in a statement.

Krutrim in Sanskrit means ‘artificial’. The company is developing data centres and will ultimately aim to create servers and supercomputers for the AI ecosystem.

As Krutrim becomes India’s fastest Unicorn and also the country’s first AI unicorn. The funds raised will be instrumental in accelerating the company’s mission to revolutionise the AI landscape, drive innovation, and expand its reach globally, the company said in the statement.

Bhavish Aggarwal, founder of Krutrim, said, “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.”

Last month, Krutrim unveiled its base Large Language Model (LLM). With the largest representation of Indian data used for its training, it powers generative AI applications for all Indian languages. Trained by a team of leading computer scientists, based in Bangalore and San Francisco, this model will also power Krutrim’s conversational AI assistant that understands and speaks multiple Indian languages fluently.

“Trained on over 2 trillion tokens, Krutrim accomplishes better performance on multiple well-known, global, LLM evaluation benchmarks including MMLU, HellaSwag, BBH, PIQA and ARC,” it said.