At the time when OpenAI was making waves across the globe, India’s GenAI ecosystem was still very much in its infancy India is home to more than 100 GenAI startups and these startups have raised more than $600 Mn since 2019 Spearheading this transition are names like SarvamAI and Krutrim, which are focussed on building indigenous LLMs in the homegrown GenAI space, which is projected to cross the $17 Bn mark by 2030 Before November 2022, OpenAI was a little-known startup in the US. However, that very month, the company unveiled a chatbot, ChatGPT, which in just two months crossed 100 Mn monthly active users, making it the fastest-growing consumer application in history. OpenAI’s GPT-3, a large language model (LLM), has since paved the way for GPT-4 and $11 Bn+ in funding for OpenAI, mostly from Microsoft.
At the time when OpenAI was making waves across the globe, India’s GenAI ecosystem was still very much in its infancy. However, the country’s GenAI space seems to have made massive strides since then. Not only have we been able to mint India’s first AI unicorn, Krutrim, but also attracted major interest from investors and entrepreneurs to cause a stir in this space.
Consequently, India is home to more than 100 GenAI startups and these startups have raised more than $600 Mn since 2019. Spearheading this transition are names like SarvamAI and Krutrim, which are focussed on building Indic LLMs, while others like ObserveAI, having secured $214 Mn, are leveraging AI to o.
