Ola's Krutrim denies report of $300 million fundraise

New Delhi: Ola's AI arm Krutrim on Monday (April 21) denied media report on the company's plan to raise USD 300 million.

There is a report which talks about AI venture plan to raise USD 300 million.

"The article falsely suggests that Krutrim is engaged in discussions to raise external equity capital and misrepresents the financial strategy and operations of the company. Krutrim categorically denies the claims made in the article," the AI firm said in a statement.

Krutrim said that it is presently is not raising any external equity as the company is well funded by the promoter and select investors and it continues to invest towards executing its AI strategy.

" Any report suggesting otherwise is entirely incorrect," the statement said.