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Ola’s Krutrim cuts 50 jobs in linguistics team: Report

EntrackrEntrackr · 1m ago
Ola’s Krutrim cuts 50 jobs in linguistics team: Report
Medial

Ola’s Krutrim cuts 50 jobs in linguistics team: Report Krutrim, the AI unit of Ola, has laid off around 50 employees from its linguistics team in its third round of job cuts since June, according to an ET report. Those affected include team leads and transcribers for regional languages such as Bengali, Malayalam, and Punjabi. In total, more than 200 employees have left the company so far this year, including leadership exits. Earlier in July this year, Krutrim sacked more than 100 employees in its second round of layoffs. The layoffs come as Krutrim works on its largest language model, Krutrim 3, which will be a multibillion-parameter model. In an official statement to the media, the company said the cuts are part of a “strategic realignment” as it builds leaner teams to focus on its AI platform. It added that the current data annotation phase involving linguistics work has been completed. Since April, at least six senior executives, including heads of AI data, software engineering, cloud architecture, and corporate finance, have quit. This follows over 20 earlier exits across levels in FY25. Krutrim’s AI products, including Krutrim Cloud and its large language model offerings, have yet to gain traction due to technology gaps. Its AI assistant app Kruti has been downloaded 207,000 times since launching in June, according to SensorTower. Krutrim has raised approximately $75 million and joined the unicorn club in January 2024. Its investors include Z47 (formerly Matrix), the Sarin Family, and others. In December last year, Aggarwal pledged his Ola Electric shares to secure debt funding through debenture issuance for Krutrim. Krutrim was also reportedly in talks to raise $300 million in a new funding round. However, the company denied it officially. The company has also revealed plans to scale its data center capacity to 1 GW by 2028 and has committed up to $1.2 billion in funding over the next few years. Recently, Krutrim also acquired BharatSahAIyak, a company focused on public-sector AI solutions, from technology consulting firm Samagra.

Ola Electric promoter pledges 2.43% stake to secure debt for Krutrim

EntrackrEntrackr · 21d ago
Ola Electric promoter pledges 2.43% stake to secure debt for Krutrim
Medial

Ola Electric promoter pledges 2.43% stake to secure debt for Krutrim Krutrim has raised approximately $75 million and joined the unicorn club in January 2024. Its investors include Z47 (formerly Matrix), the Sarin Family, and others. Ola Electric’s promoter has pledged 10.71 crore shares, or 2.43% of the company’s equity capital, to raise funds for Krutrim Data Centre, according to a stock exchange filing. The pledged shares account for 8.09% of the promoter’s holdings in the EV maker. The pledge, created in favour of Axis Trustee Services on behalf of Avendus, InCred, and India Credit Opportunities funds, replaces an earlier non-disposal undertaking (NDU) disclosed in December 2024 and March 2025. Ola said the NDU over these shares will be released once the pledge process is completed. The development comes months after the expiry of lock-in over a portion of promoter shares under SEBI’s listing rules. Krutrim has raised approximately $75 million and joined the unicorn club in January 2024. Its investors include Z47 (formerly Matrix), the Sarin Family, and others. Krutrim was reportedly in talks to raise $300 million in a new funding round. However, the company denied it officially. Last week, Krutrim laid off around 50 employees from its linguistics team in its third round of job cuts since June. In total, more than 200 employees have left the company so far this year, including leadership exits. Krutrim’s AI products, including Krutrim Cloud and its large language model offerings, have yet to gain traction due to technology gaps. Meanwhile, the firm is working on its largest language model, Krutrim 3, which will be a multibillion-parameter model. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

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