Ola Electric Founder’s AI Venture, Krutrim, Achieves Unicorn Status as India’s First Billion-Dollar AI Startup

Krutrim, the synthetic intelligence (AI) startup founded through serial entrepreneur Bhavish Aggarwal, has entered the coveted unicorn club, securing $50 million in funding from traders, which includes Matrix Partners India. This achievement positions Krutrim as the first Indian AI startup to attain a thousand million-dollar valuation, a feat performed simply one month after unveiling a […] The post Ola Electric Founder’s AI Venture, Krutrim, Achieves Unicorn Status as India’s First Billion-Dollar AI Startup appeared first on The Real Preneur.

Jan 31, 2024 - 13:56
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Ola Electric Founder’s AI Venture, Krutrim, Achieves Unicorn Status as India’s First Billion-Dollar AI Startup

Krutrim, the synthetic intelligence (AI) startup founded through serial entrepreneur Bhavish Aggarwal, has entered the coveted unicorn club, securing $50 million in funding from traders, which includes Matrix Partners India. This achievement positions Krutrim as the first Indian AI startup to attain a thousand million-dollar valuation, a feat performed simply one month after unveiling a significant language version, as stated in a current blog published through the organization.

The name Krutrim, derived from Sanskrit, interprets as “artificial,” reflecting the organization’s middle focus on advancing AI technologies. Alongside its language model initiatives, Krutrim is actively engaged in the improvement of data facilities and has bold plans to create servers and supercomputers tailored for the evolving AI environment.

In the context of a burgeoning hobby in huge language models in Indian languages, often referred to as Indic LLMs, Krutrim’s leap forward comes amid a broader landscape in which diverse Indian startups and academic agencies are racing to set up their own AI systems. The flow is in reaction to the global trend of countries looking to develop indigenous AI abilities, decreasing dependence on technology from essential players of the USA and China.

While Europe witnesses tremendous investments in AI, exemplified with the aid of the $2 billion valuation of Mistral AI in France, India, with its 1. Four billion people are adopting a method focused on constructing smaller, fee-green AI systems. The generative AI startup Sarvam recently released OpenHathi, its first open-supply Hindi LLM, following a $ forty-one million funding from Lightspeed Venture Partners, billionaire Vinod Khosla, and other members.

Bhavish Aggarwal, also the founding father of Ola, emphasized the need for India to increase its personal AI abilities. In an announcement, he stated, “India has to build its personal AI. We are dedicated closer to constructing the USA’s first entire AI computing stack.” Krutrim’s ascent to unicorn repute underscores the developing momentum of India’s AI landscape and its dedication to fostering indigenous innovation inside the discipline.

The post Ola Electric Founder’s AI Venture, Krutrim, Achieves Unicorn Status as India’s First Billion-Dollar AI Startup appeared first on The Real Preneur.

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