Krutrim Achieves Unicorn Status as India's First AI Company with Latest Funding Round

In a groundbreaking development, Indian AI firm Krutrim achieved the status of the country's fastest unicorn and the first AI unicorn following the successful closure of its inaugural funding round. Led by prominent investors, including Matrix Partners India, the funding round secured a remarkable $50 million in equity, propelling Krutrim's valuation to an impressive $1 billion.

The substantial funds acquired will play a pivotal role in advancing Krutrim's mission to reshape the AI landscape, foster innovation, and expand its global footprint, as stated in an official release. Bhavish Aggarwal, Founder of Ola and Krutrim, emphasized the company's commitment to constructing India's inaugural complete AI computing stack, asserting, "India has to build its own AI."

Avnish Bajaj, Founder and Managing Director of Matrix Partners India, expressed privilege in deepening their partnership with Bhavish and Krutrim. Last month, Krutrim unveiled its base large language model (LLM), distinguishing itself with the largest representation of Indian data used for training. This LLM powers generative AI applications for all Indian languages, showcasing its versatility.

Developed by a team of esteemed computer scientists based in Bengaluru and San Francisco, Krutrim's model not only boasts superior performance on global LLM evaluation benchmarks but also fuels the company's conversational AI assistant proficient in multiple Indian languages. Trained on a staggering 2 trillion tokens, the Krutrim model exhibits fluency in seamlessly switching between languages and engaging in nuanced discussions, spanning topics from Bengali poetry to Bollywood movies and creative masala dosa recipes.

Krutrim is set to launch its beta version for consumers in February 2024. Furthermore, it will be accessible as an API, providing enterprises and developers with the opportunity to integrate this advanced AI technology into their applications. The company's innovative strides underscore its determination to lead India's foray into AI and contribute significantly to the global AI landscape.

(With Agency Inputs)