कृत्रिम (Krutrim), India’s own AI now becomes country’s first and fastest AI Unicorn
Bengaluru, Friday, 26th January, 2024: कृत्रिम (Krutrim), India’s own AI company focused on building the complete AI computing stack, today 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 USD 50 Mn in equity at a valuation of USD 1 Bn. This landmark achievement marks a significant milestone not only for the company but also for the Indian tech ecosystem, as कृत्रिम becomes the country's first and fastest AI company to attain a unicorn status. The funds raised will be instrumental in accelerating the company's mission to revolutionize the AI landscape, drive innovation, and expand its reach globally.
Bhavish Aggarwal, Founder, कृत्रिम said, "India has to build its own AI, and at कृत्रिम, we are fully committed towards building the country’s first complete AI computing stack. We are thrilled to announce the successful closure of our first funding round, which not only validates the potential of कृत्रिम ’s innovative AI solutions but also underscores the confidence investors have in our ability to drive meaningful change out of India for the world. As we embark on this exciting journey, we are proud to contribute to the vision of 'Viksit Bharat', where innovation and technological prowess will propel our nation towards reclaiming its status of the ‘Vishwaguru'."
Avnish Bajaj, Founder and MD, Matrix Partners India said, “Bhavish has consistently brought cutting edge tech innovation to India at scale with Ola and Ola Electric - and now excitingly with कृत्रिम to power the journey of ‘Viksit Bharat’ digitally. We are incredibly privileged to deepen our partnership with Bhavish and कृत्रिम."
कृत्रिम earlier unveiled its base Large Language Model (LLM) last month. With the largest representation of Indian data used for its training, it powers generative AI applications for all Indian languages. Trained by a team of leading computer scientists, based in Bangalore and San Francisco, this model will also power कृत्रिम’s conversational AI assistant that understands and speaks multiple Indian languages fluently.
कृत्रिम is a family of Large Language Models, including कृत्रिम base and कृत्रिम Pro which will have multimodal, larger knowledge capabilities, and many other technical advancements for inference. Trained on over 2 trillion tokens, कृत्रिम accomplishes better performance on multiple well known, global, LLM evaluation benchmarks including MMLU, HellaSwag, BBH, PIQA and ARC.
कृत्रिम model can fluently switch between languages and discuss nuanced topics ranging from poetry in Bengali, to Bollywood movies, to creative masala dosa recipes! कृत्रिम will be available in beta version for consumers in February 2024. Additionally, it will also be available as an API for enterprises and developers, seeking to create AI applications.
Ola कृत्रिम’s superior linguistic skills make it a valuable tool for a wide range of purposes from education to business communication. The company is also working on AI infrastructure to develop indigenous data centers and eventually, server-computing, edge-computing and super-computers.
About कृत्रिम (Krutrim):
Ola Krutrim is India’s own and first AI company focused on building the complete AI computing stack. With a vision to make India an AI first economy, Krutrim is enabling each of the 1.4B+ Indian consumers, developers, entrepreneurs and enterprises by putting the power of AI in their hands.
About Matrix Partners India:
Founded in 2006, Matrix Partners India invests in companies targeting the Indian consumer and enterprise market, and has invested in several category-leading companies such as Dailyhunt(Local language platform), Five Star Business Finance (SME Lending), OfBusiness (B2B commerce, fintech), Ola (Mobility), Ola Electric (Electric Vehicles), OneCard (Mobile-first credit card), Oxyzo (Tech-enabled smart financing), Razorpay (Payments), Captain Fresh (B2B seafood marketplace), Country Delight (D2C dairy & fresh foods brand), GoKwik (E-commerce enablement platform), Jupiter (Neobank), MoEngage (Customer engagement platform), Mswipe(Mobile POS), Stanza Living (Tech-enabled student housing platform) and Zupee (Skill-based gaming) among others. Matrix Partners India has advisory offices in Bangalore, Delhi and Mumbai. Further information is available at www.matrixpartners.in. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.
