Krutrim, the AI startup founded by entrepreneur Bhavish Aggarwal, has reached unicorn status by securing $50 million in funding, with Matrix Partners India among the notable investors. This achievement comes just a month after the company introduced a large language model. Krutrim is now the first Indian AI startup to achieve a billion-dollar valuation. Translating to “artificial” in Sanskrit, Krutrim is not solely focused on language models; it is also actively involved in developing data centres and has ambitious plans to manufacture servers and supercomputers tailored for the AI ecosystem.
The emergence of Krutrim aligns with the broader trend across various countries, including India, where there is a concerted effort to develop indigenous AI systems rather than relying on technologies from established players like the US and China. The objective is to create more cost-efficient AI solutions that cater specifically to the needs of the Indian market. This strategic move positions Krutrim at the forefront of India’s AI landscape, echoing the sentiment of other startups like Sarvam, which recently launched OpenHathi, its first open-source Hindi language model, after securing $41 million in investments.
Founder Bhavish Aggarwal, renowned for his role in establishing the Indian ride-hailing startup Ola, emphasized the significance of building India’s own AI capabilities. In a statement, Aggarwal expressed the company’s dedication, stating, “We are fully committed to building the country’s first complete AI computing stack.” Krutrim’s rapid ascent to unicorn status underscores the growing importance of AI innovation in India and the determination of its entrepreneurs to contribute significantly to the global AI landscape. For more information, stay tuned to the IncBasil Website.
