Ola founder Bhavish Aggarwal's Krutrim AI turns unicorn with $50 million funding from Matrix, others

economictimes.indiatimes.com:

Krutrim AI, the artificial intelligence firm founded by Ola Electric’s Bhavish Aggarwal, has raised $50 million at a valuation of $1 billion from venture capital fund Matrix Partners India and other investors.

Krutrim AI is the first Indian unicorn of 2024 along with being the first Indian AI firm to join the billion dollar club.

Elevate Your Tech Prowess with High-Value Skill Courses

The firm did not provide any details of the funding round in a press statement on Friday. This is the first equity round in the firm. In October last year, Krutrim had raised $24 million in debt from Matrix Partners.


“India has to build its own AI, and at Krutrim, we are fully committed towards building the country’s first complete AI computing stack,” Aggarwal said in a statement.

In December last year, Krutrim announced its large language model (LLM) in two formats. While the company opened registrations for the base format, Krutrim, it is expected to make a public launch this month, Aggarwal had said.
The more sophisticated Krutrim Pro with vision, speech, and task execution capabilities will be available later this year.

The model will have generative support for 10 Indian languages and will be able to take inputs in a total of 22 languages. It has been trained on over two trillion tokens of data for Indian languages, Aggarwal had said previously while presenting the new models in December. Token is a basic unit of data like text or code that an LLM uses to process and generate language.