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.

‘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.

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

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