Ola CEO Bhavish Aggarwal founded an AI startup Krutrim recently and now the startup has become the first $1 billion valuation AI startup in India. The company became a unicorn startup after the recent funding round in which Matrix Partners India also invested in Krutrim. Krutrim has raised around $50 million in this funding round. Let’s explore more about this startup and what the company does and what are the latest inventions of the startup.
Currently, there are a lot of startups in India with impressive innovations and mind-blowing products. The Artificial Intelligence (AI) Industry has also grown very rapidly in the past year. After the open AI success, Indian companies came into the AI Startup race and competed to become the most valuable AI startups in the country.
Open AI’s chat GPT has created a buzz in the artificial intelligence world. After the challenge from the Open AI CEO Sam Altman, Indian companies took the challenge seriously and went on the track to become the world’s most successful India-based AI startup. Now after seeing several startups, it looks like the country may achieve the title very soon.
An India-based generative AI startup Sarvam is gaining attention after the launch of its OpenHathi. its first open-source Hindi LLM was in the last month. The announcement came days after it had raised $41 million in investment from Lightspeed Venture Partners, billionaire Vinod Khosla, and others.
Currently, the AI industry has a market cap of US$5.47bn in 2024. It is projected that AI Industry will grow by 17.94% by the year 2030. This projection shows extreme growth and futuristic expectations. Also, Indian tech startups are ready to get benefits from the rising demand in the Artificial Intelligence Industry.