Ola founder Bhavish Aggarwal has said that his artificial intelligence startup Krutrim has raised $50 million in funding at a $1 billion valuation. Krutrim has now India’s first AI stratup to reach the unicorn status.
The investor’s in Krutrim’s latest funding round include Matrix Partners India. Interestingly, Krutrim has hit the billion-dollar valuation just a month after its debut as a large language AI model.
Krutrim, which means “artificial” in Sanskrit, is also in the process of developing data centres across the country, aiming to create supercomputer ecosystem for AI development in India, the company said in a blog post.
The company plans to make a beta version of its eponymous chatbot available to consumers next month. Krutrim will also roll out APIs to developers and enterprises in the coming months.
Matrix Partners is one one of the main investors in Aggarwal’s two other startups, Ola and Ola Electric.
Aggarwal said in a statement, “We are thrilled to announce the successful closure of our first funding round, which not only validates the potential of Krutrim’s innovative AI solutions but also underscores the confidence investors have in our ability to drive meaningful change out of India for the world.”
What is Krutrim AI?
Krutrim is a large language model (LLM) which has been trained on more than 2 trillion ‘tokens’; these tokens are sub-words used in conversations. The AI platform is also set to have two classifications.
Krutrim was introduced last month while Krutrim Pro is set for release this year, with advanced capabilities for problem-solving and task execution. The project team of the company claims Krutrim is larger than GPT-4.
This LLM uses a custom tokenizer to interpret the languages and scripts. When compared to other open-source LLMs trained with similar data volumes, it outperformed those on a range of industry-standard benchmarks, the company claims.
Source: Hindustan Times
