As Ola CEO's Krutrim turns unicorn, which AI startups achieved the feat in 2023? - Hindustan Times
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As Bhavish Agarwal's Krutrim turns unicorn, which AI startups achieved the feat last year?

By, New Delhi
Jan 27, 2024 09:19 AM IST

The company, launched in December 2023, is India's first AI unicorn, and the fastest company to reach that status.

In a significant development, Ola founder Bhavish Aggarwal's artificial intelligence (AI) startup, Krutrim, has become India's first AI unicorn, and the fastest company to reach that status. The company achieved this by raising an investment of $50 million (approx. 415 crore) in equity at a valuation of $1 billion (approx. 8300 crore), successfully closing its first round of funding, Krutrim said in a statement.

Ola founder Bhavish Aggarwal speaks at the 12th edition of INSIGHT: The DNA of Success, held at the Isha Foundation in Coimbatore.
Ola founder Bhavish Aggarwal speaks at the 12th edition of INSIGHT: The DNA of Success, held at the Isha Foundation in Coimbatore.

‘Krutrim,' which has a name that translates to ‘artificial’ in Sanskrit, was founded in December last year. A ‘unicorn,’ meanwhile, is a privately-owned startup valued at $1 billion or more.

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Here's a look at some AI startups that became unicorn in 2023:

According to crunchbase.com, as many as 15 AI startups became unicorn in 2023. These are:

UnicornFounded inHeadquartersMost recent valuationFunds raised till now
Adept AI2022San Francisco$1 billion$415 million
AI21 Labs2017Tel Aviv$1.4 billion$274 million
Character.ai2021Menlo Park$1 billion$150 million
Cohere2019Toronto$2.2 billion$435 million
CoreWeave2017Roseland$2.4 billion$427 million
DeepL2009Cologne$1.1 billion$100 million
Helsing2021Berlin$1.8 billion$341 million
Imbue2021San Francsico$1 billion$232 million
Light Years Beyond2023Beijing$1.2 billion$280 million
Replit2016San Francsico$1.2 billion$202 million
Runway2018New York City$1.5 billion$237 million
Quantexa2016London$1.8 billion$370 million
Synthesia2017London$1 billion$157 million
Typeface2022San Francisco$1 billion$165 million
Zhipu AI2019Beijing$1.6 billion$342 million
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