In a bold move to secure more funding for his AI startup, Krutrim, Bhavish Aggarwal, the founder of Ola Electric, has pledged an additional 5.88 crore shares of Ola Electric. This latest pledge takes his total encumbered shares to around 2.43% of Ola Electric’s total shares, representing about 8.09% of his personal stake in the electric vehicle company.
The shares are valued at approximately ₹603 crore, based on the current share price of ₹56.40 per share. Aggarwal retains ownership of the pledged shares, but they are placed under a non-disposal undertaking, meaning he cannot sell or transfer them for the time being.
Why Pledge Shares? Funding Krutrim’s Growth
Aggarwal’s pledge comes as part of his effort to secure the final phase of funding for Krutrim, the artificial intelligence startup he co-founded. The startup, which aims to develop a complete AI computing stack, has been steadily gaining traction in the tech world. This is the second and final share pledge, following an earlier pledge of 4.83 crore shares in December 2024.
Krutrim, whose name means “artificial” in Sanskrit, is positioning itself as a competitor in the rapidly growing AI space. The startup has already launched an Android app for its AI chatbot, which is designed to compete with the likes of OpenAI’s ChatGPT, Google’s Gemini, and Microsoft’s Copilot.
Aggarwal’s Big Bet on Krutrim
Bhavish Aggarwal has been investing heavily in Krutrim. In February, he committed a massive ₹2,000 crore investment to fuel the startup’s growth, with plans to invest a total of ₹10,000 crore by next year. This is a significant move, given his prominent role in Ola Electric, where he owns just over 30% of the company.
Krutrim’s journey has been promising. In January of the previous year, the AI startup was valued at $1 billion after raising $50 million in funding, led by Matrix Partners India. As one of the key figures behind the success of Ola Electric, Aggarwal is looking to leverage his experience and network to make Krutrim a major player in the AI industry.
Details of the Latest Share Pledge
The shares pledged by Aggarwal are being held in favor of Axis Trustee Services Limited. The trustee is working on behalf of several investment funds, including Avendus Structured Credit Fund II, Avendus Finance, and InCred Credit Opportunities Funds I & II. These funds have provided debt financing to Krutrim, with Aggarwal’s pledged Ola Electric shares acting as collateral.
The pledge is a strategic move to secure the much-needed capital for Krutrim, and it follows an earlier pledge of 4.83 crore shares in December 2024. As part of this process, Krutrim issued debentures on February 21 and 24, 2025, to further raise debt financing.
What’s Next for Krutrim and Ola Electric?
Bhavish Aggarwal’s commitment to Krutrim shows his dedication to creating an AI powerhouse, and he’s willing to put his significant stake in Ola Electric on the line to achieve that goal. The funds raised through this pledge are expected to support Krutrim’s growth as it builds out its AI capabilities and infrastructure.
For Ola Electric, this pledge does not seem to pose any immediate concern, as Aggarwal’s overall ownership remains substantial. He continues to focus on Ola Electric’s expansion in the electric vehicle market while diversifying his investments into other tech ventures like Krutrim.
The AI sector is evolving rapidly, and Krutrim’s AI chatbot could soon challenge the dominance of established players like ChatGPT and Google’s Gemini. As the company progresses, Aggarwal’s bets on both Ola Electric and Krutrim could reshape the future of AI and electric vehicles in India and beyond.
A New Era of Tech Investment
Aggarwal’s willingness to pledge such a significant portion of his shares in Ola Electric demonstrates the importance of Krutrim in his broader vision for the future of technology. The AI market is becoming more competitive every day, and startups like Krutrim are looking to carve out a unique space in this booming industry.
For Aggarwal, these strategic investments could ultimately yield great rewards if Krutrim succeeds in creating a top-tier AI product. Given his track record with Ola Electric, many industry observers will be watching closely to see if his leadership can lead Krutrim to the same heights of success.
Bhavish Aggarwal’s Dual Tech Strategy
Bhavish Aggarwal is demonstrating a bold vision by placing his trust and resources into two rapidly growing sectors—electric vehicles and artificial intelligence. With his commitment to Krutrim, coupled with his ongoing leadership at Ola Electric, Aggarwal is positioning himself as a key figure in both the EV and AI industries.
The pledge of 5.88 crore shares is just one part of a broader strategy to ensure Krutrim’s success in the competitive AI landscape. As Krutrim prepares to compete with some of the biggest names in AI, all eyes will be on Bhavish Aggarwal to see how this high-risk, high-reward strategy plays out.
