Krutrim Emerges as India's First AI Unicorn Following $50 Million Funding Round

Beyond the consumer launch, the startup aims to develop AI solutions for enterprises and toolkits for developers. Additionally, Krutrim is actively working on establishing data centers and hardware solutions, reducing dependence on foreign technology.

Krutrim Emerges as India's First AI Unicorn Following $50 Million Funding Round
Image/ Bhavish Aggarwal

Bengaluru-based AI startup Krutrim, co-founded by Bhavish Aggarwal, the entrepreneur behind Ola, has achieved unicorn status following a successful funding round that raised $50 million. Matrix Partners India led the investment, valuing Krutrim at $1 billion. This rapid ascent makes Krutrim the fastest Indian startup to reach unicorn status and the country's first AI unicorn.

Krutrim, meaning "artificial" in Sanskrit, has set ambitious goals in the AI landscape. The startup is focused on building a complete AI computing stack tailored for India. This includes large language models, data centers, edge devices, and a future vision encompassing servers and supercomputers dedicated to powering AI applications.

Krutrim is focused on building a large language model that has been trained on local Indian languages along with English. The startup plans to launch a voice-enabled conversational AI assistant capable of understanding and speaking multiple Indian languages. A beta version of its chatbot will be available to consumers in the coming month, followed by the rollout of APIs to developers and enterprises. Additionally, Krutrim aims to develop in-house capabilities for manufacturing chips optimized for AI compute.

The fresh funding comes just a month after Krutrim introduced its large language model. Trained on over 2 trillion tokens and incorporating a vast representation of Indian data, the model stands out as a cultural and technological milestone. It adeptly handles a spectrum of Indian languages and dialects, reflecting the country's rich linguistic diversity.

Matrix India's Founder and MD, Avnish Bajaj, highlighted Aggarwal's proven track record in scaling transformative ventures. "We are excited to expand our partnership with Bhavish and Krutrim as they drive India's digital journey towards a developed nation," remarked Bajaj.

Bhavish Aggarwal, CEO of Krutrim, expressed the commitment to building India's first complete AI computing stack, emphasizing the importance of India developing its own AI capabilities. The investment in Krutrim comes at a time when global investors are actively seeking opportunities in breakthrough AI technologies. While India's startup ecosystem is vast, it has yet to make a significant impact in the global AI race, with large language model titans like OpenAI's ChatGPT and Amazon-backed Anthropic dominating the space. Krutrim joins the league of AI startups in India, with notable backers and ambitious plans to contribute to the advancement of AI technology.