Right at the dawn of 2024, India birthed its first unicorn of the year, that too an artificial intelligence (AI) unicorn — Krutrim AI. Investors — after the funding high of 2021-22 had worn off — are tightening purse strings, increasing scrutiny, and getting valuations back to ground over the last two years. This year, within just two months, AI start-ups in India have attracted $55 million in funding. I think the space is still not fully developed and a lot of money is chasing very few properties. Valuation worriesAmid the scramble for a slice of the AI pie, valuations are shooting up.

Source: The Hindu February 12, 2024 01:57 UTC