AI Firm Krutrim Denies USD 300 Million Fundraising Rumors

AI company Krutrim, affiliated with Ola, has refuted media claims about raising USD 300 million from external investors. The company asserts it is financially stable with backing from existing investors and is not seeking additional equity. Reports suggesting otherwise misrepresent Krutrim's current financial strategy.

On Monday, Krutrim, the AI division of Ola, categorically denied recent media allegations suggesting the firm's efforts to secure USD 300 million through external funding.

According to a statement issued by the company, the claims contained in the article are false, as Krutrim is not engaged in discussions to raise additional equity capital. The company maintains its financial strategy remains unaltered and stable, thanks to support from its promoter and select investors.

Krutrim emphasized its well-funded status and its commitment to pursuing its AI strategy without seeking additional outside investments. The company dismissed any reports suggesting otherwise as entirely incorrect.

(With inputs from agencies.)