Bengaluru-based Krutrim has secured $50 million in its first external funding round, led by Matrix Partners India, propelling the AI startup to unicorn status. With the fresh capital injection valuing Krutrim at $1 billion, it has become the fastest Indian startup to reach this milestone and the country’s first AI unicorn.
Founded by serial entrepreneur Bhavish Aggarwal, who also heads the ride-hailing firm Ola, Krutrim aims to develop a full-stack AI computing platform tailored for India. Its goal is to build homegrown language models, data centers, edge devices, and eventually supercomputers to power AI applications.
The funding round comes just a month after Krutrim debuted its foundational large language model tailored for Indian languages. This model, trained on over 2 trillion tokens and incorporating the largest representation of Indian data, is not just an engineering feat but a cultural one. It adeptly handles a spectrum of Indian languages and dialects, reflecting the country's rich linguistic diversity.
The company sees its model as critical bridge connecting the nuances of Indian culture, from Bengali poetry to Bollywood cinema, to the world of AI. Next month, Krutrim will release its beta version for consumers and an API for enterprises and developers, a move anticipated to further democratize AI in India.
"India has to build its own AI, and at Krutrim, we are committed to building the country's first complete AI stack," said Aggarwal. "We are thrilled that investors share our vision of pushing Indian innovation and technological progress."
Avnish Bajaj, Founder and MD at Matrix India, noted that Aggarwal has a proven track record of scaling transformative ventures. "We are excited to expand our partnership with Bhavish and Krutrim as they drive India's digital journey towards a developed nation," he remarked.
The fresh influx of capital will help Krutrim accelerate its product roadmap. Besides the consumer launch, Krutrim is developing AI solutions for enterprises and toolkits for developers. It is also working on data centers and hardware like servers and edge devices to reduce reliance on foreign technology.
Nations worldwide, including India, are recognizing the importance of developing their sovereign AI capabilities. This shift is not just about achieving technological independence, but also about crafting AI solutions that resonate with local needs and contexts.