Krutrim Denies Reports of $300 Million Fundraise, Says No Ongoing Talks
It added that Krutrim was currently not raising any external equity, as it was well-funded by the promoter and select investors, and that it continued to invest toward executing its AI strategy. The company stated that any report suggesting otherwise was entirely incorrect.
Report on Fundraising Plans
Earlier on Monday, The Mint reported that Krutrim is in talks to raise around $300 million, a reduction from an earlier target of $500 million. The publication said the start-up may attract interest from global investment banks such as Goldman Sachs, JP Morgan, and SBI Capital Markets, although no concrete investment offers have been made so far for the next funding round.
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The report further stated that Matrix Partners, which previously invested $50 million in Krutrim, may participate again with a contribution of $25 million or more.
Ola Krutrim’s Investment Push
In February, Ola Krutrim announced a massive investment plan of ₹10,000 crore over the next year. As part of this initiative, it launched India’s first frontier AI research centre, Krutrim AI Lab.
So far, the company has invested more than ₹2,000 crore to build one of India’s largest AI computing clusters—GB200 and NVL72—powered by NVIDIA’s advanced GPUs and processing systems designed for high-performance AI workloads.
Krutrim AI recently introduced several new AI models, including a multilingual vision-language model (VLM) named Chitrarth-1. This model combines image recognition with natural language processing and is designed to operate across 10 Indian languages - Hindi, Bengali, Telugu, Tamil, Marathi, Gujarati, Kannada, Malayalam, Odia, and Assamese alongside English.
