Ola's Krutrim raises $50 million to become India's first AI unicorn

Krutrim AI unicorn funding: Krutrim, the AI arm of Ola Group, has become the country's first AI unicorn after successfully raising $50 million in a funding round, led by Matrix Partners India and other prominent investors.

Founder Bhavish Aggarwal expressed his excitement, stating, "We are thrilled to announce the successful closure of our first funding round, validating Krutrim's innovative AI solutions and the confidence investors have in our ability to drive meaningful change globally from India."

Krutrim's mission is to build India's first complete AI computing stack, and the newly acquired funds will play a crucial role in accelerating the company's efforts to revolutionise the AI landscape and expand its global footprint.

The company unveiled its base Large Language Model (LLM) last month, boasting the largest representation of Indian data for training. Krutrim aims to power generative AI applications for all Indian languages, emphasising its commitment to fostering innovation within the Indian AI ecosystem.

Trained by a team of leading computer scientists based in Bangalore and San Francisco, Krutrim's LLM will also serve as the foundation for the company's conversational AI assistant, capable of understanding and fluently speaking multiple Indian languages.

Krutrim comprises a family of Large Language Models, including Krutrim Base and Krutrim Pro, the latter featuring multimodal capabilities, expanded knowledge, and various technical advancements for inference.

The company has initiated an early access program until January 2024, allowing interested users to sign up on the website. Furthermore, Krutrim plans to open its APIs (application programming interfaces) to all developers by February 2024, promoting collaboration and innovation within the AI community. This funding success positions Krutrim as a frontrunner in shaping India's AI landscape and contributing globally to the field of artificial intelligence.

(With PTI inputs.)