Krutrim, the AI startup founded by OLA CEO Bhavish Aggarwal, has secured $50 million in funding, propelling its valuation to an impressive $1 billion and earning the coveted title of India’s first AI unicorn. The investment round was spearheaded by Matrix Partners India, along with significant contributions from other notable investors.

The announcement, made via a LinkedIn post, marks a historic moment for Krutrim and a noteworthy achievement for India’s burgeoning tech landscape. Bhavish Aggarwal expressed his enthusiasm for the future, emphasizing Krutrim’s commitment to constructing India’s inaugural complete AI computing stack.

Krutrim, whose name translates to “artificial” in Sanskrit, unveiled its language model just a month ago, transcending the realm of language models. The startup is actively engaged in developing data centers and has ambitious plans to manufacture servers and supercomputers dedicated to the AI ecosystem.

Trained on an extensive dataset of over 2 trillion tokens, with a specific focus on Indian data, Krutrim powers generative AI applications across various Indian languages. The linguistic prowess of Krutrim extends to conversational AI assistants that fluently understand and speak multiple Indian languages.

Krutrim’s family of Large Language Models, including Krutrim Base and Krutrim Pro, boasts advanced capabilities such as multimodal features and a broader knowledge base. The model seamlessly switches between languages and engages in discussions on diverse topics, ranging from Bengali poetry to Bollywood movies and creative masala dosa recipes.

The beta version of Krutrim is set to be released for consumers in February 2024, accompanied by an API offering for enterprises and developers seeking to integrate AI applications seamlessly.

Bhavish Aggarwal highlighted the significance of India’s participation in the global race to build large language models. Krutrim’s achievement adds a significant milestone to the country’s efforts to establish its own AI systems, contributing to the global technological landscape.

The funds raised by Krutrim will play a pivotal role in accelerating its mission to revolutionize the AI landscape, drive innovation, and expand its global reach. As a testament to Krutrim’s potential, this funding not only solidifies its status as India’s first AI unicorn but also underscores the confidence investors have in the company’s ability to bring meaningful change from India to the world.