New Delhi: Bhavish Aggarwal, the renowned founder and CEO of Ola Cabs and Ola Electric, has recently embarked on a new entrepreneurial endeavor. It has been reported by various media outlets that he has established a fresh company, potentially venturing into the realm of artificial intelligence (AI).
In April, Aggarwal formally launched his new enterprise named Krutrim SI Designs, as revealed through documents obtained from the Ministry of Corporate Affairs by the business intelligence website, Tofler. According to the available records, Aggarwal and Tenneti Venugopala Krishnamurthy are the sole directors of this newly incorporated company, with its official formation date being April 5.
Reports indicate that Aggarwal is presently in the process of finalizing investor funding for his new venture. Notably, Krishnamurthy, often referred to as TVG, has served as Aggarwal’s trusted advisor for an extensive period and holds positions on the boards of all his enterprises. The aforementioned filings reveal that Aggarwal’s flagship company, ANI Technologies, operates Ola Cabs, while Ola Electric Mobility oversees the electric vehicle industry. Aggarwal’s other notable endeavors include Ola Electric Technologies, focusing on research and development, and Ola Financial Services, which ANI Technologies acquired in its entirety.
According to the disclosed documents, Krishnamurthy assumes directorial responsibilities for all of these firms, in addition to Ola Electric Charging, a subsidiary of Ola Electric Mobility. As mentioned earlier, media reports suggest that Aggarwal may have secured investments for his new AI company, potentially from Matrix Partners. It is worth noting that Matrix Partners had previously been an early investor in Ola Cabs, thereby solidifying their prior business relationship.
Bhavish Aggarwal’s foray into the AI domain with Krutrim SI Designs showcases his unrelenting entrepreneurial spirit and his commitment to exploring innovative avenues. As an industry leader and visionary, Aggarwal’s new venture holds significant promise, especially with the support of influential investors and his trusted advisor, Krishnamurthy. With his remarkable track record of success, it will be fascinating to witness Aggarwal’s journey into the AI field and the potential impact his new company may have on the industry as a whole.
