Krutrim, dedicated to constructing the entire AI computing stack, announced the success of its funding round and outlined ambitious plans for the future.
In a groundbreaking development, Krutrim, the AI firm under the Ola group, has achieved unicorn status by raising $50 million (approximately Rs 415 crore) in its first funding round, reaching a valuation of $1 billion. The funding, spearheaded by Matrix Partners India and other prominent investors, signifies a milestone for Krutrim as the first Indian artificial intelligence unicorn.
Krutrim, dedicated to constructing the entire AI computing stack, announced the success of its funding round and outlined ambitious plans for the future.
The substantial investment will play a pivotal role in propelling Krutrim's mission to reshape the AI landscape, foster innovation, and extend its global footprint.
Bhavish Aggarwal, founder of Krutrim, expressed enthusiasm about the achievement, and told PTI, "India has to build its own AI, and at Krutrim, we are fully committed towards building the country's first complete AI computing stack."
He emphasised that the funding not only validates Krutrim's innovative AI solutions but also highlights investor confidence in the company's ability to instigate meaningful change globally from India.
Krutrim recently unveiled its base Large Language Model (LLM), boasting the largest representation of Indian data for training purposes. The model is designed to power generative AI applications across all Indian languages. Developed by a team of leading computer scientists based in Bangalore and San Francisco, the model will also drive Krutrim's conversational AI assistant proficient in multiple Indian languages.
The Krutrim family includes the Krutrim base and Krutrim Pro, the latter featuring multimodal capabilities, expanded knowledge, and various technical advancements for inference. In a strategic move, Krutrim initiated an early access program until January 2024 and plans to open its APIs for all developers by February 2024.
This significant funding round positions Krutrim at the forefront of India's AI landscape, marking a pivotal moment in the country's tech evolution and solidifying its status as a global AI innovator.
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