New Delhi, 26 January (Language): Ola Group’s AI (artificial intelligence) company Crutrim has raised US$50 million in a funding round led by Matrix Partners. The company said on Friday that this amount was raised on the basis of a valuation of one billion US dollars. This Crutrim has become the first AI company in India to become a unicorn. A startup company with a valuation of more than one billion dollars is called a unicorn.
Indian AI company Crutrim, which builds end-to-end AI computing technology, has successfully completed its first round of funding, Ola said in a statement. Matrix Partners India and other major investors invested $50 million. For this, the value of Crutrim was estimated at one billion dollars.
The company said the funding will be used to foster innovation in the AI landscape and expand reach globally. “India needs to build its own AI, and at Crutrim, we are fully committed to building the country’s first full AI computing technology,” said Bhavish Aggarwal, Founder of Crutrim.