Total amount raised
$303.7 Millions
Latest funding date
02/01/2025
Location
Krutrim has successfully raised an undisclosed amount over multiple funding rounds, focusing on AI-based platforms for the mobility industry. The company offers a range of products and services, including foundational models, AI cloud infrastructure, and voice-enabled generative AI applications.
Keep reading to explore the intricacies of Krutrim's fundraising journey and the investors backing this innovative platform.
What Is Krutrim?
Krutrim, founded on April 5, 2023, in Bangalore, Karnataka, India, is a technology company specializing in AI-based platforms for the mobility industry. The company was founded by Bhavish Aggarwal and currently employs between 11-50 people.
Krutrim focuses on developing silicon chips and building a cloud infrastructure to support AI computing. Their offerings include foundational models, AI cloud infrastructure, and voice-enabled generative AI applications for Indian languages.
Additionally, Krutrim provides AI solutions for daily tasks and language barriers, and runs the Ola Technology fellowship program for students in AI and computing research.
How Much Funding Has Krutrim Raised?
- Funding Round
- Amount Raised: $24M
- Date: October 2023
- Lead Investors: Matrix Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and operations of Ola Electric, particularly in developing silicon chips, cloud infrastructure, and AI models.
- Series A
- Amount Raised: $50M
- Date: January 2024
- Lead Investors: Z47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI computing infrastructure and expand product offerings.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: February 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing projects and operational costs.
- Funding Round
- Amount Raised: ₹20B
- Date: February 2025
- Lead Investors: Bhavish Aggarwal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI-based platforms and expand market reach.
Total Amount Raised: $74M + ₹20B
Current Valuation: Not publicly disclosed
Key Investors
- Bhavish Aggarwal
- Details: Bhavish Aggarwal is the founder of Krutrim and the co-founder of Ola. He has successfully raised over $1 billion for Ola Electric and is deeply involved in the AI and mobility sectors.
- Investment Focus Areas: Electric vehicles, artificial intelligence, silicon chips, cloud infrastructure, AI models.
- Notable Investments: Ola Electric, Krutrim.
- Z47
- Details: Z47 is a key investor in Krutrim's Series A funding round. The firm is known for its strategic investments in technology startups.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Matrix Partners
- Details: Matrix Partners is a venture capital firm that led Krutrim's $24 million debt funding round. The firm has a strong presence in the technology and AI sectors.
- Investment Focus Areas: Technology, artificial intelligence, cloud infrastructure.
- Notable Investments: Not publicly disclosed.
Information about other major investors was not found in the provided sources.
What's Next for Krutrim?
Krutrim stands at the cusp of significant opportunities, particularly in developing silicon chips and AI models, which are crucial for supporting Ola Electric's operations. The company is poised to benefit from India's $10 billion incentive for domestic chip production, positioning itself as a key player in the AI and chip production space.
Future fundraising looks promising, with potential equity capital raises and convertible debentures from Matrix Partners set to convert into equity shares. This financial backing could attract further investments, enabling Krutrim to scale its operations and expand its market reach.
However, Krutrim faces challenges, including competition from established players like Jio Platforms and Vedanta, and the technological hurdles of developing advanced silicon chips. Securing substantial funding and navigating these challenges will be critical for Krutrim's continued growth and success.
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