Krutrim, the brainchild of Ola CEO Bhavish Agarwal, has taken a significant step forward for India's growing technology sector by launching the first artificial intelligence (AI) app valued at $1 billion. Marking a significant milestone for the country's developing technology landscape. This significant achievement not only highlights the enormous potential of India's technology sector, but also personifies the kind of forward-thinking leadership that fosters innovation in the sector.
The advent of Krutrim signifies a turning point in the continuing story of Indian startups versus universities, especially when it comes to creating large-scale language models in multiple Indian languages—a practice known as Indic LLMs. There has been a noticeable upsurge in attempts to develop domestic artificial intelligence systems since the release of OpenAI's ChatGPT more than a year ago, indicating a shift away from dependency on imported technology from countries like the US or China.
Bhavish Aggarwal founded the AI startup Krutrim, which quickly became a unicorn after raising $50 million from well-known investors, including Matrix Partners India, in a successful fundraising round. The word "Krutrim," which comes from the Sanskrit word for "artificial," itself represents the blending of contemporary technology and native heritage. Thanks to its quick rise, the startup became the first billion-dollar AI startup in India in an incredibly short amount of time.
Aggarwal stated in a statement that "India has to build its own AI, and at Krutrim, we are fully committed to building the country's first complete AI computing stack," Aggarwal reiterated his support for the advancement of AI in India.
This historic achievement demonstrates the transformative potential that results from visionary leadership paired with indigenous innovation, as well as the ability of India to become a significant player in the global AI market. Given its current rate of innovation and growth, Krutrim is in a good position to change India's technology landscape and inspire the country's younger entrepreneurs to take big chances in the artificial intelligence space.