Krutrim

History

2024: Capitalization estimate - more than $1 billion

On January 26, 2024, the Indian company Krutrim, specializing in artificial intelligence technologies, announced that it had received an estimate of over $1 billion. Thus, this firm became the first AI startup in India to achieve such a result.

Krutrim was founded by entrepreneur Bhavish Aggarwal in 2023. The startup announced a round of financing, in which $50 million was raised for development. The funds were also provided by the Matrix Partners India fund, which also supported two other Aggarwal startups - taxi aggregator Ola and electric vehicle firm Ola Electric.

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Фото: The Economic Times

Krutrim intends to launch an AI-based voice assistant that understands and speaks several Indian languages. The company introduced its own large language model, which can also communicate on topics of poetry, cinema, etc. The startup says on its website that it also plans to develop its own capacity to produce chips optimized for AI tasks.

India must build its AI and at Krutrim we are fully committed to developing the country's first full suite of AI technologies. We are pleased to announce the successful completion of our first round of funding, which not only confirms the potential of the company's AI solutions, but also emphasizes investor confidence in our future, says Aggarwal.

It is noted that after the launch of the ChatGPT chatbot, many Indian startups and scientific groups seek to create large language models in Indian languages. Other countries also intend to develop and implement competitive AI models rather than relying on technology from the US and China. For example, Mistral AI, an AI startup from France, founded in 2023, is estimated at $2 billion.^[1]

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