Team Blitz India
NEW DELHI: Krutrim has raised $50 million at a valuation of $1 billion, becoming India’s AI first unicorn startup of 2024 and the first homegrown artificial intelligence firm to reach the milestone.
The AI firm, founded by Ola Electric’s Bhavish , Aggarwal raised the capital from investors led by venture capital fund Matrix Partners India. Unicorns are privately-held startups valued at $1 billion or more. Krutrim did not provide further details of the funding round.
Last October, the firm had raised $24 million in debt from Matrix Partners, which is also an investor in Aggarwal’s ride-hailing company Ola and electric two-wheeler maker Ola Electric.
India has to build its own AI, and at Krutrim, we are fully committed towards building the country’s first complete AI computing stack,” Aggarwal said in a statement.