Ola Founder’s AI Startup Krutrim Achieves Unicorn Status with $1 Billion Valuation
Krutrim, an artificial intelligence startup founded by Bhavish Aggarwal—also the founder of Ola—has made headlines by achieving a billion-dollar valuation. According to Aggarwal, the company has recently raised $50 million in funding, reaching a valuation of $1 billion and subsequently becoming the first AI unicorn in India. This news comes from the source of Reader Wall.
Artificial Intelligence Inclusion Making Big Strides
Krutrim, named for the Sanskrit word for “artificial”, launched a month ago as a large language AI model. With the immense success of its most recent funding round led by Matrix Partners India, Krutrim has entered the realm of billion-dollar companies at an impressive speed. The funding will be used for the development of data centres nationwide, the creation of supercomputers for India’s burgeoning AI ecosystem, and to make a beta version of its eponymous chatbot available to consumers.
Shared Investors Increase Confidence
Matrix Partners India—a common investor in Aggarwal’s other ventures Ola and Ola Electric—led the latest round of funding for Krutrim. In a statement, Aggarwal commended the successful closure of the funding round. He conveyed that this success not only attests to the potential of Krutrim’s AI solutions but also reflects investors’ belief in the venture’s capability to make significant global changes initiated from India.
Krutrim’s Unique Features and Capabilities
Krutrim is distinguished as a large language model (LLM) trained on over 2 trillion ‘tokens’ or sub-words used in conversations. The platform is also slated to have two classifications. Further to its initial launch last month, Krutrim Pro will be released in 2024, featuring advanced problem-solving and task execution capabilities. The company’s project team claims that Krutrim exceeds the size of GPT-4, another renowned AI platform.
Comparatively, Krutrim’s robust foundation allows it to outperform other open-source LLMs based on similar data volumes. This includes its custom tokenizer to interpret languages and scripts, which exceeds other LLMs on diverse, industry-standard benchmarks, according to the company’s claims.
