News Article:
Ola’s Krutrim Emerges as India’s First AI Firm to Achieve Unicorn Status with $50 Million Funding
Krutrim, the artificial intelligence (AI) arm of Ola group, has successfully raised $50 million in a recent funding round led by Matrix Partners India. This financing has propelled Krutrim’s valuation to a whopping $1 billion, making it the first AI unicorn from India. Excitingly, this achievement positions Krutrim as a trailblazer in the country’s AI landscape.
Krutrim, which focuses on developing a comprehensive AI computing stack, announced the successful closure of its initial round of funding. The funding round attracted investments from prominent players such as Matrix Partners India and other investors, securing $50 million in equity funding at a valuation of $1 billion.
The newly secured funds will play a crucial role in expediting Krutrim’s mission to revolutionize the field of AI, promote innovation, and expand its global outreach. Bhavish Aggarwal, the Founder of Krutrim, expressed his enthusiasm and commitment to building India’s first complete AI computing stack. He stated, India has to build its own AI, and at Krutrim, we are 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.
Krutrim recently unveiled its base Large Language Model (LLM), which boasts the largest representation of Indian data used for training. This breakthrough advancement enables Krutrim to power generative AI applications for all Indian languages. The model, developed by a team of distinguished computer scientists based in Bangalore and San Francisco, will also serve as the foundation for Krutrim’s conversational AI assistant, capable of comprehending and fluently communicating in multiple Indian languages.
Krutrim is a family of Large Language Models, comprising of Krutrim base and Krutrim Pro. The Pro version will feature multimodal capabilities, offering larger knowledge capabilities, and various other technical advancements for inference.
In addition, Krutrim has announced an early access program that will run until January 2024, inviting users to sign up via a simple registration page on their website. Moreover, Krutrim is planning to open its APIs, which developers can integrate into their applications, to all developers by February 2024.
Krutrim’s achievement as India’s first AI unicorn reflects the growing recognition of the country’s potential in AI technology. With its innovative solutions and a focus on building a robust AI ecosystem, Krutrim is spearheading India’s foray into the AI landscape, setting an example for other aspiring AI ventures in the country.
As Krutrim continues to disrupt the AI space, advancements in domains such as natural language processing, conversational AI, and other AI-driven applications are expected to drive India’s technological growth and contribute to its global standing.
References:
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