- Krutrim claims to be the fastest-growing unicorn in India, achieving this status within a year of its establishment.
- Matrix Partners India, a supporter of Aggarwal's ventures, leads the $50 million funding round for Krutrim.
- India aims to strengthen its position in AI, with Krutrim emerging as a notable contender, especially in language models.
Krutrim, an AI startup founded by Bhavish Aggarwal, the founder of Ola, has announced that it has raised funding worth $1 billion. The startup, which was established last year, claims to be the fastest-growing unicorn in India and the first Indian AI startup to achieve this status.
Matrix Partners India, which has previously supported Aggarwal's other ventures, Ola and Ola Electric, led the $50 million funding round for Krutrim.
The startup is focused on developing a language model that can understand and speak multiple Indian languages, in addition to English.
Aggarwal expressed his commitment to building India's own AI capabilities and highlighted the confidence investors have in Krutrim's innovative solutions.
India, despite having a thriving startup ecosystem, has not made a significant impact in the AI race.
The country's contenders have yet to challenge the dominance of major language model giants like OpenAI's ChatGPT, Anthropic backed by Amazon, and Google's Bard.
Training a large language model is a costly endeavor. OpenAI has raised over $11 billion so far, while Anthropic has also secured billions from investors like Google and Amazon.
Edited by Shruti Thapa