Raises $50 million in equity at a valuation of $1 billion
Empowers Indians with complete AI computing stack, developed in India, for India
Bengaluru, NFAPost: Krutrim, India’s own AI company focused on building the complete AI computing stack, announced the successful closure of its first round of funding.
The funding round, led by prominent investors such as Matrix Partners India and others, garnered an investment of $50 million in equity at a valuation of $1 billio.
This landmark achievement marks a significant milestone not only for the company but also for the Indian tech ecosystem, as Krutrim becomes the India’s fastest Unicorn and also India’s first AI unicorn.
The funds raised will be instrumental in accelerating the company’s mission to revolutionize the AI landscape, drive innovation, and expand its reach globally.
Krutrim Founder Bhavish Aggarwal said India has to build its own AI and Krutrim is fully committed towards building the country’s first complete AI computing stack.
“We are thrilled to announce the successful closure of our first funding round, which not only validates the potential of Krutrim’s innovative AI solutions but also underscores the confidence investors have in our ability to drive meaningful change out of India for the world,” said Krutrim Founder Bhavish Aggarwal.
As India embark on this exciting journey, Krutrim Founder Bhavish Aggarwal said the company is proud to contribute to the vision of ‘Viksit Bharat’, where innovation and technological prowess will propel India towards reclaiming its status of the ‘Vishwaguru’.
Matrix Partners India Founder and MD Avnish Bajaj said Bhavish has consistently brought cutting edge tech innovation to India at scale with Ola and Ola Electric – and now excitingly with Krutrim to power the journey of ‘Viksit Bharat’ digitally.
“We are incredibly privileged to deepen our partnership with Bhavish and Krutrim,” said Matrix Partners India Founder and MD Avnish Bajaj.
Krutrim earlier unveiled its base Large Language Model (LLM) last month. With the largest representation of Indian data used for its training, it powers generative AI applications for all Indian languages. Trained by a team of leading computer scientists, based in Bangalore and San Francisco, this model will also power कृत्रिम’s conversational AI assistant that understands and speaks multiple Indian languages fluently.
The AI startup Krutrim is a family of Large Language Models, including कृत्रिम base and कृत्रिम Pro which will have multimodal, larger knowledge capabilities, and many other technical advancements for inference. Trained on over 2 trillion tokens, कृत्रिम accomplishes better performance on multiple well known, global, LLM evaluation benchmarks including MMLU, HellaSwag, BBH, PIQA and ARC.
Krutrim model can fluently switch between languages and discuss nuanced topics ranging from poetry in Bengali, to Bollywood movies, to creative masala dosa recipes! कृत्रिम will be available in beta version from for consumers in February 2024. Additionally, it will also be available as an API for enterprises and developers, seeking to create AI applications.
Ola Krutrim’s superior linguistic skills make it a valuable tool for a wide range of purposes from education to business communications. The company is also working on AI infrastructure to develop indigenous data centers and eventually, server-computing, edge-computing and super-computers.
