Krutrim, Bhavish Aggarwal’s AI Venture, Achieves Unicorn Status, Marking a Milestone for India in 2024


Bhavish Aggarwal, the founder of Ola, has announced that his artificial intelligence startup, Krutrim, has secured $50 million in funding, achieving a valuation of $1 billion. This accomplishment positions Krutrim as India’s first AI startup to attain unicorn status.

Matrix Partners India participated in Krutrim’s latest funding round, contributing to the swift achievement of a billion-dollar valuation within a month of the startup’s launch as a significant language AI model.

Krutrim, meaning “artificial” in Sanskrit, is actively working on establishing data centres across India to create a robust supercomputer ecosystem to advance AI development in the country, as highlighted in the company’s blog post.

Shortly, Krutrim plans to release a beta version of its chatbot, and the company also aims to provide APIs to developers and enterprises in the coming months.

Matrix Partners, a key investor in Aggarwal’s previous ventures, Ola and Ola Electric, has again shown confidence in Krutrim.

Aggarwal enthusiastically stated, “We are delighted to share the successful completion of our inaugural funding round. This achievement affirms the potential of Krutrim’s groundbreaking AI solutions and reflects the trust investors place in our capacity to catalyze significant positive impact beyond India on a global scale.”

What sets Krutrim AI apart is its status as a large language model (LLM), trained on over 2 trillion ‘tokens,’ representing sub-words used in conversations. The platform is introducing two classifications: Krutrim and Krutrim Pro. Krutrim Pro, set for release this year, boasts advanced capabilities for problem-solving and task execution, making it larger than GPT-4, according to the company’s project team.

According to the company’s claims, Krutrim utilizes a custom tokenizer for language and script interpretation, outperforming other open-source LLMs trained with similar data volumes on industry-standard benchmarks.

Source: Hindustan Times