Krutrim Refutes Claims of $300 Million Funding Round
Ola’s AI subsidiary Krutrim has officially denied recent media reports suggesting the company is planning to raise $300 million in funding. In a statement issued on Monday, the company said, “The article inaccurately claims that Krutrim is in talks to raise external equity capital and misrepresents our financial plans and operations. We firmly reject these claims.”
Krutrim clarified that it is not currently seeking any external equity investment, as it is already well-funded by its promoter and select investors, and remains focused on advancing its AI initiatives with internal support.
The company is committed to maintaining transparency regarding its financial plans and operations. Krutrim’s denial comes amid reports suggesting significant investment interest in AI startups.
Krutrim’s statement underscores the company’s confidence in its current financial backing and its ability to pursue AI development without external funding at this time.
