OLA FOUNDER'S KRUTRIM INDIA'S 1ST AI UNICORN

Ola's founder Bhavish Aggarwal has created an AI startup called "Krutrim" and it has raised $50 million in a funding round led by Matrix Partners India. The funding was at a valuation of over $1 billion. The funds would be deployed to drive innovation and expand its footprint globally. Krutrim and Sanskrit for artificial, will have an identity separate from Ola's mobility and EV businesses.

The company was incorporated as Krutrim SI Designs in April last year with teams based in Bengaluru and San Francisco. The beta version of Krutrim will be available for consumers from February. Additionally, it will also be available as an API for enterprises and developers seeking to create AI applications.

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