Bhavish Aggarwal-led Krutrim AI's business head Ravi Jain steps down
What's the story
Ravi Jain, the business head of artificial intelligence (AI) start-up Krutrim AI, has resigned after a three-year-long stint. This is yet another high-profile exit from the Bengaluru-based company this year. Krutrim AI, co-founded and led by Ola CEO Bhavish Aggarwal, has not released any official statement on Jain's exit.
Company profile
Krutrim AI's strategic partnerships and funding success
Krutrim AI has formed a number of strategic partnerships with global giants like Arm and Untether AI. The partnerships are focused on advancing the development of CPU and AI chips, platforms, and systems. In January 2024, Matrix Partners led a funding round that raised $50 million for Krutrim at a valuation of $1 billion. This made Krutrim India's first artificial intelligence unicorn.
Executive exits
Ola witnesses series of high-profile departures in 2024
Jain's exit isn't an isolated case, Ola has witnessed a string of high-profile resignations this year. Ola Cabs's CEO Hemant Bakshi had left the company within three months of his appointment. Further, Karthik Gupta had quit as CFO for Ola Cabs and Ola Financial Services (Ola Mobility) in May.