Bhavish Aggarwal’s Bold Leap into AI: Krutrim SI Designs
Bhavish Aggarwal, organizer and President of Ola Taxis and Ola Electric, is getting into another business. According to two authoritative sources, he has launched a new business, which may operate in the artificial intelligence (AI) sector.
According to documents obtained from the Ministry of Corporate Affairs by the business intelligence website Tofler, Aggarwal and Tenneti Venugopala Krishnamurthy are the only two directors of the new company, which was incorporated on April 5.
According to sources, Aggarwal will soon close investor funding for the new company.
Krishnamurthy, more commonly referred to as TVG, has been Aggarwal’s advisor for a long time and serves on the boards of all of his businesses. Ola Cabs is operated by Aggarwal’s flagship company, ANI Technologies; Ola Electric Mobility, the company in charge of the electric vehicle industry; Ola Electrical Technologies, which focuses on innovation; The documents are displayed because Ola Financial Services was completely acquired by ANI Technologies.
Krishnamurthy is a chief on the leading body of this large number of organizations and an extra organization, Ola Electric Charging Pvt Ltd, which is an auxiliary of Ola Electric Versatility, the reports show.
Curiously, the new company Krutrim does not include “Ola” in its registration name, unlike Aggarwal’s other businesses. Aggarwal may have received investment commitment for this new AI venture from Matrix Partners, the venture capital firm that was an early investor in Ola Cabs, according to the earlier cited sources.
Aggarwal and Matrix Partners have worked closely together over the years, with Matrix Partners investing in all Ola Group startups. Matrix had previously made investments in Aggarwal’s brother Ankush Aggarwal’s Avail Finance, Ola Electric, and Ola Financial Services. Ola Cabs later purchased Avail Finance. ET Prime sent emails to Ola and Matrix Partners requesting confirmation of this development, but neither company responded.
It would appear that Aggarwal, who is currently directing Ola Electric’s fundraising efforts and preparing for the company’s public listing in the coming year, will simultaneously focus on launching an AI venture. He got on board with the speedy trade fad in 2022 by sending off Ola Run.
He had just launched Ola Cars, a used car service, a few months earlier. Around that time, a solid premium from funding financial backers had helped four pre-owned vehicle new businesses to become unicorns. Ola Cabs’ verticals, Ola Cars and Ola Dash, were quickly folded.
Recently, Aggarwal expressed an interest in AI. He has been consistently tweeting about man-made intelligence and has said India ought to take lead in embracing man-made intelligence advancements. One of the sources says that Aggarwal recently visited Taiwan, a major hub for AI computing system chips.
