In a groundbreaking feat, Bhavish Aggarwal, co-founder of Ola has propelled his latest venture, Krutrim, to India's third-fastest start-up. This is the country's first AI venture to make it to the list of unicorns.
The journey started with an investment of $50 million (approximately ₹415 crores) in equity by venture capitalist firm Matrix, making Krutrim's valuation $1 billion (around ₹8300 crores).
Krutrim is going to operate as a large language model (LLM), which the start-up claims is the "accurate representation of Indian data in training".
Ola Unleashes 'Krutrim' LIVE
Krutrim intends to build a first-of-its-kind AI model in India, with the ability to design generative artificial intelligence apps. This will also be used to power Krutrim's conversational AI facility in different languages, across the country.
Talking about his vision, Aggarwal says, "India has to build its own AI capabilities. At Krutrim, we are fully committed to building the country’s first complete AI computing stack".
The company revealed Krutrim Pro, an advanced language model with improved abilities to understand and navigate various languages and topics.
This multimodal model, trained on a vast dataset of 2 trillion tokens, is set to launch its beta version in February 2024. The goal is to facilitate applications in education and business communications.
Additionally, the company has plans to establish AI infrastructure with local data centres and cutting-edge computing solutions.
India is slowly emerging as one of the global leaders in the unicorn tally. It ranks 3rd, only after the US and China.
Krutrim's ambitious plan to build India's AI ecosystem would go a long way in determining the country's position in the start-up world.
