

How the Ola empire is fueling Bhavish’s personal AI business, Krutrim
New Delhi/Bengaluru: Embattled entrepreneur Bhavish Aggarwal-owned artificial intelligence venture, Krutrim, is being propped up almost entirely by business routed through venture-capital- and public-investor-backed Ola companies — raising fresh questions among experts over governance and the use of shareholder-backed resources to support a promoter-owned unit.Krutrim SI Designs Pvt Ltd, which Aggarwal set up through his family office in the summer of 2023, reported revenue from operations of ₹101.7 crore for the year ended March 2025, according to its financials filed with the ministry of corporate affairs. Of this, ₹90.8 crore or 90% of revenue came from two group entities: Ola Electric Mobility and ANI Technologies.Ola Electric Technologies Pvt Ltd, the wholly-owned subsidiary of Ola Electric Mobility Ltd, accounted for ₹23.87 crore, while Ola Cell Technologies Pvt Ltd, the other subsidiary of the listed company, brought in ₹2.29 crore, according to the review of the financials by Mint.
ANI Technologies Pvt Ltd, which runs Ola cabs, accounted for ₹49.05 crore, while its second subsidiary, Ola Financial Services, brought in the remaining ₹15.58 crore.According to the financials of Krutrim, Ola Electric Mobility, Ola Cell Technologies and ANI Technologies, these related-party transactions were due to Krutrim managing the technology needs of cab services, EV scooters, and lithium-ion cell manufacturing. More details were not immediately available.
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