Ola founder’s Krutrim becomes first AI unicorn startup; Raises $50 million at a valuation of $1 billion

Ola co-founder and CEO Bhavish Aggarwal’s artificial intelligence startup, Krutrim, which was launched on December 15, 2023, has turned unicorn by raising $50 million at a valuation of $1 billion.

Thus, Krutrim not only becomes the first unicorn of 2024 but also the first AI startup in the country to have achieved that mark. Matrix partners India, an early backer of Aggarwal’s other ventures Ola Cabs and Ola Electric, led the funding round.

Krutrim plans to use the funds raised to expand its reach globally, drive innovation, and accelerate the company’s goal to reshape the AI landscape.