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Bhavish Aggarwal’s Krutrim in talks to raise $300 Mn

EntrackrEntrackr · 9m ago
Bhavish Aggarwal’s Krutrim in talks to raise $300 Mn
Medial

Bengaluru-based Krutrim AI Labs is working to build a complete AI ecosystem for India, with plans to take on global players like OpenAI, Google, and Anthropic. Krutrim SI Design, the AI venture of Ola founder Bhavish Aggarwal, is reportedly in talks to raise $300 million in a new funding round. This would be the first funding for the Bengaluru-based startup since it entered the unicorn club in January last year. Mint noted that Krutrim initially aimed to raise $500 million but later scaled down the round due to limited interest from investors. The report also mentioned that Goldman Sachs, JP Morgan, and SBI Capital Markets are the bankers managing the funding round. 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. "Ola does not comment on speculation," a company spokesperson was quoted as saying. Earlier this year, Aggarwal announced the launch of Krutrim AI Labs, aimed at developing artificial intelligence specifically for India. As part of the initiative, he committed an initial investment of Rs 2,000 crore, with plans to scale it up to Rs 10,000 crore by next year. Krutrim AI Labs is working to build a complete AI ecosystem for India, with plans to take on global players like OpenAI, Google, and Anthropic. The company is developing several AI models, including Krutrim-2 (a next-gen language model), Chitrarth 1 (for images and text), Dhwani 1 (for speech), and Vyakhyarth 1 (focused on Indian languages). As part of its plan, Krutrim is also building India’s largest AI supercomputer using NVIDIA’s GB200 chips to boost the country’s AI and cloud infrastructure.

AI semiconductor startup Agrani Labs raises $8 Mn led by Peak XV

EntrackrEntrackr · 10d ago
AI semiconductor startup Agrani Labs raises $8 Mn led by Peak XV
Medial

Bengaluru-based Agrani Labs, an AI semiconductor startup, has come out of stealth and raised $8 million in a seed round led by Peak XV Partners with participation from angel investors. The proceeds will be used to scale engineering efforts and advance product development as Agrani Labs works towards building globally competitive AI compute solutions from India. Founded by Dheemanth Nagaraj, Ashok Jagannathan, Srikanth Nimmagadda, and Rajesh Vivekanandham, Agrani Labs is working on building a high-performance AI GPU designed for data centres. The startup is entering a market that is seeing rapid growth, driven by rising demand for AI compute infrastructure, but remains dominated by a few global players. Agrani Labs is building a full-stack AI compute platform, covering both hardware and software. Along with GPU design, the company is developing its own software stack, including compilers, libraries, system software, and AI frameworks. Agrani Labs has also onboarded Vinod Dham, widely known as the “Father of the Pentium,” as a founding advisor. Dham previously played a key role in Intel’s processor roadmap and is closely associated with India’s semiconductor ecosystem. The startup has already made progress on architecture and product definition and has built early versions of its hardware and software stack. Agrani Labs is also working with academic institutions, semiconductor partners, government research bodies, and software ecosystems to accelerate development.

Peeyush Ranjan joins Meraki Labs to lead AI Strategy

EntrackrEntrackr · 9m ago
Peeyush Ranjan joins Meraki Labs to lead AI Strategy
Medial

Peeyush Ranjan, former CTO of Flipkart and ex-Google executive, has joined Mukesh Bansal’s startup incubator Meraki Labs as a partner. Ranjan will focus on advancing Meraki’s AI strategy and expanding its footprint in Silicon Valley. He will collaborate with entrepreneurs at the incubator to refine their tech and product approaches. Ranjan will also play a strategic role in shaping the AI direction of Meraki Labs. Additionally, he will join the board of Nurix AI, a startup founded by Bansal under Meraki Labs, which raised $27.5 million in seed and Series A funding from Accel and General Catalyst. Prior to Meraki Labs, Ranjan served as VP of Engineering at Google, leading AI-driven initiatives like Google Assistant.

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