Bhavish Aggarwal’s AI startup Krutrim turns unicorn after raising $50 mn

Krutrim, an artificial intelligence (AI) venture co-founded by Bhavish Aggarwal of Ola, on Friday announced that it has achieved unicorn status — a term used to describe startups valued at $1 billion or above — following its inaugural funding round. The round, which saw participation from notable investors, such as Matrix Partners India, garnered investments worth $50 million in equity at a valuation of $1 billion.

With this, Krutrim claimed the distinction of being India’s first AI company to reach unicorn status and also the title of the country’s fastest unicorn. Krutrim, which translates to “artificial” in Sanskrit, was launched in April 2023 by Aggarwal and Krishnamurthy Venugopala Tenneti, a board member of ANI Technologies that owns Ola and Ola Electric.