How Krutrim Became India's First AI Unicorn

Krutrim, a startup that uses artificial intelligence to automate customer service, has raised $200 million in a Series C round led by Tiger Global, valuing the company at over $1 billion. This makes Krutrim the first Indian AI startup to achieve the unicorn status, and also one of the fastest-growing companies in the sector.

Krutrim was founded in 2020 by Bhavish Aggarwal, who is also the founder and CEO of Ola, India's largest ride-hailing platform. Aggarwal saw an opportunity to leverage Ola's massive data and customer base to create a new venture that would solve the pain points of customer service for businesses across industries.

Krutrim's AI platform enables businesses to automate their customer interactions across channels such as voice, chat, email, and social media. The platform uses natural language processing, speech recognition, and machine learning to understand customer queries and provide personalized and accurate responses. Krutim claims that its platform can handle over 90% of customer queries without human intervention, reducing costs and improving customer satisfaction.

Krutrim has already signed up some of the leading brands in India as its clients, such as Flipkart, HDFC Bank, Reliance Jio, and Zomato. The startup also plans to expand its presence in international markets, especially in the US and Europe, where it sees a huge demand for its AI solutions.

Krutrim's success story is a testament to the potential of India's AI ecosystem, which has been growing rapidly in recent years. According to a report by Nasscom, India's IT industry body, the country's AI market is expected to reach $16 billion by 2025, accounting for 20% of the global market. The report also states that India has over 2,000 AI startups, with more than 400 being added every year.

Krutrim's founder Aggarwal said that he is proud of his team for achieving this milestone and that he is confident that Krutrim will continue to innovate and deliver value to its customers. He also said that he hopes that Krutrim will inspire more entrepreneurs in India to pursue their dreams and create world-class AI products.