Krutrim, India’s 1st AI firm to turn unicorn

Ola group's AI firm Krutrim has raised $50 million at a valuation of $1 billion in a funding round led by Matrix Partners, the company said on Friday.

This makes Krutrim the first artificial intelligence unicorn from India.

"Krutrim, India's own AI company focused on building the complete AI computing stack, announced the successful closure of its first round of funding. The funding round, led by prominent investors such as Matrix Partners India and others, garnered an investment of $50 million in equity at a valuation of $1 billion," the company said.

The funds raised will be instrumental in accelerating the company's mission to revolutionize the AI landscape, drive innovation, and expand its reach globally.

"India has to build its own AI, and at Krutrim, we are fully committed towards building the country's first complete AI computing stack.”