Home Market Ola’s Krutrim achieves unicorn status, after raising $50 million in funds ,becoming the first AI firm in India to do so

Ola’s Krutrim achieves unicorn status, after raising $50 million in funds ,becoming the first AI firm in India to do so

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Ola’s artificial intelligence firm, Krutrim, has secured $50 million in funding at a valuation of $1 billion in a round led by Matrix Partners, marking its status as India’s first AI unicorn. Krutrim, focused on developing a comprehensive AI computing stack, expressed excitement about the successful closure of its funding round, featuring investors like Matrix Partners India. The raised funds will play a crucial role in advancing Krutrim’s mission to transform the AI landscape, foster innovation, and expand its global presence.

Founder Bhavish Aggarwal stated, “We are dedicated to building the country’s first complete AI computing stack. The successful closure of our first funding round not only validates Krutrim’s innovative AI solutions but also reflects investors’ confidence in our ability to drive meaningful change from India to the world.”

Ola's

Krutrim recently introduced its base Large Language Model (LLM) with the largest representation of Indian data for training. Claiming to power generative AI applications for all Indian languages, Krutrim’s conversational AI assistant, developed by a team of computer scientists in Bangalore and San Francisco, can understand and speak multiple Indian languages fluently.

Comprising LLMs like Krutrim Base and Krutrim Pro, the latter features multimodal capabilities, larger knowledge capacities, and various technical advancements for inference. Krutrim initiated an early access program until January 2024, with open APIs for all developers scheduled for February 2024.

In addition to the foundational AI model for generative applications, the company is developing an in-house AI computing stack. This involves creating an AI cloud infrastructure and manufacturing chips optimized for AI compute. The architecture includes multiple chiplets to support various AI infrastructure, models, and applications.

Ravi Jain, Ola’s Chief Marketing Officer, highlighted that Krutrim aims to strike the right balance between performance and price, making it suitable for a wide range of day-to-day applications. He mentioned that all Ola group companies are already incorporating Krutrim for various internal tasks, such as customer support, voice and chat services, and customer sales calls.

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