Latest news with #Krutrim
Time of India
2 hours ago
- Business
- Time of India
MakeMyTrip's record raise; Zuck goes talent shopping
MakeMyTrip's record raise; Zuck goes talent shopping Also in the letter: What's the news: The fundraise marks the largest ever by a listed Indian new-age company. On Tuesday, MakeMyTrip disclosed in a regulatory filing that it is raising $3 billion to buy back shares from Group. MakeMyTrip cofounders Deep Kalra and Rajesh Magow currently hold 4.6% of the company's voting rights. Domestic control: Other major raises: Paytm raised $2.5 billion during its IPO in 2021. Through its public issue, Zomato (now Eternal) raised $1.25 billion and followed this with a $1 billion raise via a qualified institutional placement (QIP) in November 2024. Swiggy raised $1.2 billion from the public markets in its public issue in 2024 Ola Electric raised $740 million through its IPO in August last year. Also Read: Elevation Capital sells Ixigo shares worth Rs 97.4 crore; Schroder buys stake Numbers game: Elevation Capital has sold 53.9 lakh shares for Rs 97.4 crore, pricing them at Rs 180 apiece. In parallel, global investor Schroder International Selection Fund picked up shares worth Rs 96.9 crore in the company. This comes after Elevation sold 21.5 lakh shares in Ixigo for Rs 38.27 crore in May. As of March 31, Elevation held a 14% stake in Ixigo. That has now come down to 12%. The early-stage investor had originally put in Rs 63.1 crore across multiple tranches. Mark Zuckerberg made abortive attempt to buy ex-OpenAI executive Ilya Sutskever's AI startup: Report Driving the news: High-stakes game: Zuckerberg is spearheading an ambitious effort to build a 'superintelligence' team focused on developing artificial general intelligence (AGI), the elusive frontier where AI not only matches but surpasses human capabilities. Inside Meta, there is growing frustration with the sluggish progress of its current efforts, particularly the limitations of the Llama 4 models. Eager not to be left behind, Zuckerberg is setting his sights on outpacing OpenAI and Google in the AGI race. Tell me more: Also Read: Swiggy pilots travel and lifestyle concierge app Crew Details: What's the significance: Background: Krutrim eyes AI growth with BharatSah'AI'yak acquisition Tell me more: Why it matters? Also Read: Zoom out: Internal challenges: YouTube Shorts has hit 200 billion daily views: CEO Neal Mohan Numberwise: More details: At the 2025 Cannes Lions Festival, Mohan added that people now watch over 1 billion hours of YouTube on their TVs every day. In May, YouTube was the most-watched streaming platform in the US for the fourth consecutive month, topping Nielsen's The Gauge report. Future outlook: Also Read: MakeMyTrip has raised $3.1 billion in the largest fundraise by a listed Indian new-age company. This and more in today's ETtech Top 5.■ Swiggy's latest pilot■ Krutrim's latest acquisition■ YouTube Shorts' monster growthMakeMyTrip raises $3.1 billion in landmark deal; to slash Chinese firm stake to 20%Online travel platform MakeMyTrip has raised $3.1 billion through a mix of equity and debt, its banker, Morgan Stanley, confirmed on faced criticism last month over its sizable Chinese shareholding, after EaseMyTrip founder Nishant Pitti accused the platform of risking the travel data of Indian Army personnel. Following this buyback, stake will fall from 45% to around 20%. Its board representation will also shrink from five directors to Bajpai (R), MD and group CEO, Ixigo, and Rajnish Kumar (L), co-CEO, IxigoVenture fund Elevation Capital has offloaded shares of Le Travenues Technology, the parent company of travel platform Ixigo, for a second time in a month, pocketing a 25x return on its Zuckerberg, CEO, MetaMeta's $14.2 billion recent investment in Scale AI, and roping in its CEO Alexandr Wang, appears to be just the beginning. Mark Zuckerberg seems to be on a man on a mission : to recruit top AI talent, and reports suggest he made a move for one of the sector's most-talked-about to CNBC, Zuckerberg tried to acquire Safe Superintelligence, the $32 billion startup founded by former OpenAI cofounder Ilya Sutskever. The talks didn't go far, with Sutskever reportedly turning him down. Meta then shifted focus to poaching CEO Daniel Gross for its AI Meta CEO is assembling a handpicked team of 50 researchers, including a new head of AI, and has held private meetings with potential hires at his homes. Alongside Gross, Meta is also bringing in former GitHub CEO Nat Friedman to under Altman recently stated on a podcast that Zuckerberg has offered $100 million bonuses to attract talent, but so far, with little has ventured into a new category with the pilot launch of its travel and lifestyle concierge app, app blends human concierges with generative AI to help users plan trips, offering more than just itinerary year, ahead of its IPO, Swiggy tested a similar service, Rare Life, a personalised concierge service for exclusive experiences. That experiment was short-lived, as the company decided to focus on broader lifestyle offerings is part of Swiggy's latest push beyond food delivery, dining out, and quick commerce. In January, it launched Pyng, a professional services marketplace This signals a departure from Swiggy's earlier 'superapp' strategy. Instead of integrating all services under one platform, Swiggy has started offering standalone apps. Instamart, its quick commerce unit, got a dedicated app earlier this May, the company shut down its parcel delivery service, Genie , opting instead to focus on Bolt, its rapid food delivery feature now available in 500 cities. As food delivery growth tapers off, Swiggy and rival Zomato are betting on 10-minute orders to regain Aggarwal, founder, KrutrimOla's AI division, Krutrim, has acquired BharatSah'AI'yak , an AI platform developed by governance consultancy move comes as Krutrim seeks to expand its presence in government-led digital initiatives through its proprietary AI stack. As part of the agreement, Krutrim has also onboarded Samagra's core AI has been employed in projects spanning education, agriculture, and citizen services. It will now be integrated with Krutrim's in-house large language models (LLMs), cloud infrastructure, and agentic AI assistant platform, February, Ola founder Bhavish Aggarwal announced an investment of Rs 2,000 crore in Krutrim , with plans to increase it to Rs 10,000 crore by next has recently faced internal turbulence , including several senior-level departures and criticism following the alleged suicide of an employee, with claims of a toxic work Mohan, CEO, YouTubeYouTube Shorts now commands around 200 billion daily views , according to CEO Neal marks a dramatic leap from March 2024, when YouTube said Shorts was attracting around 70 billion daily views. In just one year, daily viewership has surged by nearly 186%.As Shorts continues to gain traction, YouTube plans to strengthen support for creators by rolling out more tools. Mohan announced that Veo 3, the latest version of Google DeepMind's video generation model, will launch on the platform later this summer.
Entrepreneur
3 hours ago
- Business
- Entrepreneur
Krutrim Acquires BharatSahAIyak to Expand AI in Public Sector
Krutrim plans to integrate BharatSahAIyak's vernacular, AI-powered solutions into its own suite of offerings, leveraging its proprietary Large Language Models (LLMs), cloud infrastructure, and the Kruti agentic AI assistant platform. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Bhavish Aggarwal-led AI startup Krutrim has acquired BharatSahAIyak, a public-sector-focused AI company, from consulting firm Samagra, in a strategic move to deepen its footprint in government and citizen services. While the financial terms of the deal remain undisclosed, the acquisition marks a significant step towards Krutrim's mission of democratising AI across India. Krutrim plans to integrate BharatSahAIyak's vernacular, AI-powered solutions into its own suite of offerings, leveraging its proprietary Large Language Models (LLMs), cloud infrastructure, and the Kruti agentic AI assistant platform. The merger also includes onboarding Samagra's core AI team to ensure continuity and innovation. A Krutrim spokesperson said, "Integrating BharatSahAIyak into the Krutrim ecosystem widens its offerings, lending cutting-edge AI-centric assistance and support to a range of government initiatives, programs, and schemes. This integration enhances our ability to build AI that is inclusive, intuitive, and deeply rooted in the lived realities of India." Founded in 2023, Krutrim has developed full-stack AI capabilities in language, vision, and speech. Its latest innovation, Kruti, is India's first agentic AI assistant capable of handling tasks like cab bookings, bill payments, voice interactions, and image generation. BharatSahAIyak, on the other hand, specialises in Retrieval Augmented Generation (RAG) based AI bots that provide multilingual, voice-led experiences tailored to Indian users. Its successful implementations include: KumbhSahAIyak – India's first AI chatbot for Maha Kumbh 2025, offering pilgrims 24/7 assistance. – India's first AI chatbot for Maha Kumbh 2025, offering pilgrims 24/7 assistance. AMA Krushi AI – a voice-led agriculture advisory chatbot for Odisha's farmers in local languages. With Krutrim's infrastructure, these applications can now scale to more sectors, including healthcare, education, and governance, reaching even last-mile users. The acquisition follows several ambitious announcements from Krutrim, including its Krutrim AI Lab, the BharatBench open-source initiative, and a plan to scale data center capacity to 1 GW by 2028. The company has also committed up to USD 1.2 billion in AI development funding in the coming years. Krutrim became a unicorn in January 2024 after raising around USD 75 million from investors like Z47 (formerly Matrix) and the Sarin Family. While recent media reports hinted at another fundraising round, the company has denied any ongoing discussions.
New Indian Express
4 hours ago
- Business
- New Indian Express
Ola's Krutrim acquires BharatSah'AI'yak from tech consulting firm Samagra
Krutrim spokesperson said, 'Integrating BharatSah'Ai'yak into the Krutrim ecosystem widens its offerings, lending cutting edge AI-centric assistance and support to a range of government initiatives, programs and schemes – thereby spearheading and strengthening the democratisation of AI, making it beneficial and accessible to every Indian." BharatSah'AI'yak specialises in creating Bharat-focused, vernacular Retrieval Augmented Generation (RAG) based AI bots that deliver both text and voice-led experiences. The platform has done several implementations, including KumbhSah'AI'yak, which was an AI-powered chatbot for Maha Kumbh 2025, providing pilgrims with 24/7 guidance on rituals, navigation, accommodations, and attractions. The AI start-up recently launched Kruti, which can execute tasks like cab booking, food ordering, bill payments, image creation, and in-depth research, while also supporting read-aloud responses. Additionally, it offers advanced AI features like in-depth research and image creation free of cost for users. The team at Krutrim operates from three locations- Bengaluru, Singapore & San Francisco. In February this year, Aggarwal announced Rs 2,000 crore investment in Krutrim, with a commitment of Rs 10,000 crore by next year.
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Business Standard
8 hours ago
- Business
- Business Standard
Krutrim acquires BharatSah'AI'yak to expand AI footprint in public sector
Krutrim, the artificial intelligence start-up founded by Ola's Bhavish Aggarwal, has acquired BharatSah'AI'yak, an AI-powered platform developed by Samagra, in a move aimed at deepening its footprint in India's public sector technology landscape. The acquisition brings under Krutrim's umbrella a platform that has played a central role in accelerating the deployment of AI solutions across a range of government initiatives, spanning education, agriculture and governance. Financial terms of the deal were not disclosed. With the acquisition, Krutrim plans to integrate its proprietary large language models, cloud infrastructure and agentic AI capabilities—including those behind its recently launched assistant app, Kruti—to expand BharatSah'AI'yak's reach nationwide. 'At Krutrim, we have boarded the country's brightest minds to develop a platform that reflects the diversity, depth and richness of Indian languages and culture,' said a Krutrim spokesperson. 'This integration enhances our ability to build AI that is inclusive, intuitive and deeply rooted in the lived realities of India.' Experts said the move highlights Krutrim's broader ambition to democratise artificial intelligence across India, targeting both public services and citizen-facing platforms. The deal also highlights the increasing role of home-grown AI firms in shaping India's digital governance strategy, as the government looks to harness emerging technologies to improve service delivery and administrative efficiency. BharatSah'AI'yak specialises in creating Bharat-focused, vernacular Retrieval Augmented Generation (RAG)-based AI bots that deliver both text and voice-led experiences. The platform's impact is evident through a series of high-profile deployments. Among them is KumbhSah'AI'yak, billed as India's first AI-powered chatbot for Maha Kumbh 2025. Designed to serve millions of pilgrims, the chatbot offers round-the-clock assistance on religious rituals, site navigation, accommodation options and local attractions. Krutrim provided the hosted open-source large language model services that power the chatbot's functionality. Another notable implementation is the AMA Krushi AI chatbot, launched in Odisha. This voice-enabled assistant delivers agriculture-related guidance and information on government schemes to farmers in local languages, using authenticated data from official sources. The initiative aims to improve accessibility and decision-making for farmers across the region. With Krutrim's advanced AI models, cloud infrastructure and the agentic platform underlying Kruti, these specialised assistants can now scale to serve more users across diverse domains with intuitive, efficient and language-inclusive interactions. Krutrim recently announced the launch of Kruti, the country's first agentic AI assistant designed to go far beyond conventional chatbots. Kruti is poised to lead a paradigm shift in AI, moving from passive responses to proactive, agentic task execution. Kruti can execute tasks like cab booking, food ordering, bill payments, image creation and in-depth research, while also supporting read-aloud responses. Additionally, it offers advanced AI features like in-depth research and image creation free of cost for users. Krutrim reached unicorn status last year after raising $50 million in equity during its inaugural funding round. The round, which valued the company at $1 billion, included participation from investors such as Matrix Partners India. Earlier this year, company founder Bhavish Aggarwal announced an investment of Rs 2,000 crore in Krutrim, with a commitment to invest an additional Rs 10,000 crore by next year. The company also launched the Krutrim AI Lab and released some of its work to the open-source community.
Time of India
9 hours ago
- Business
- Time of India
Ola's Krutrim acquires BharatSah'AI'yak to scale AI-driven assistance in India
Ola Group's artificial intelligence arm Krutrim on Friday announced the acquisition of AI platform BharatSah'AI'yak from technology consultancy firm Samagra for an undisclosed amount. As part of the deal, Krutrim has also onboarded Samagra's core AI team. The AI-enabled chatbot KumbhSah'AI'yak was developed for Maha Kumbh 2025 to offer pilgrims round-the-clock guidance on rituals, navigation, accommodations, and attractions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo "Integrating BharatSah'Ai'yak into the Krutrim ecosystem widens its offerings. This integration enhances our ability to build AI that is inclusive, intuitive, and deeply rooted in the lived realities of India," Krutrim spokesperson said in a statement. Krutim had hosted open-source LLM services for the chatbot. Live Events "With this acquisition, Krutrim aims to leverage its own Large Language Models (LLMs) or artificial intelligence engine, cloud infrastructure and agentic platform powering Kruti to scale up BharatSah'AI'yak pan India," the statement said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories
