Krutrim becomes the first AI startup in India to achieve unicorn status. The founder of Ola, Bhavish Aggarwal, announced that his Artificial Intelligence business, Krutrim, has raised $50 million at a $1 billion value.
India needs to build it own AI, and we @Krutrim are committing ourselves to building the country's complete AI computing stack. We are excited to announce the successful closure of our first funding round making कृत्रिम - India's fastest Unicorn and also the first AI unicorn 🙂… pic.twitter.com/sORXgTKjki
— Bhavish Aggarwal (@bhash) January 26, 2024
According to the sources, Matrix Partners India is one of the investors in the most recent investment round for Krutrim. It's interesting to note that, barely a month after launching as a huge language AI model, Krutrim has reached billion-dollar valuation.
According to a corporate blog post, Krutrim, which means ‘artificial’ in Sanskrit, is building data centres throughout the nation with the goal of establishing a supercomputer ecosystem for AI development in India.
Taking it to his official blog post, Bhavish Aggarwal mentioned, “We are thrilled to announce the successful closure of our first funding round, which not only validates the potential of कृत्रिम’s innovative AI solutions but also underscores the confidence investors have in our ability to drive meaningful change out of India for the world.”
Here are some of the takeaways:
Krutrim's $1 billion valuation after its $50 million funding round makes it the first AI startup in India to achieve unicorn status. This highlights the growing potential and investor confidence in the country's AI sector.
Launched in April 2023, Krutrim claims to be the fastest Indian startup to reach unicorn status, achieving it within nine months. This rapid growth indicates the company's potential to disrupt the market.
Krutrim is building a voice-enabled conversational AI assistant that understands and speaks multiple Indian languages. This caters to the diverse linguistic landscape of India and has the potential to revolutionize human-computer interaction.
Krutrim plans to launch a beta version of its chatbot next month and follow it up with APIs for developers and enterprises. Additionally, it aims to develop in-house AI chip manufacturing capabilities, showcasing its long-term vision for AI dominance in India.
Overall, Krutrim's success signals a bright future for AI in India and reinforces Bhavish Aggarwal's reputation as a visionary tech entrepreneur.
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