‘No taxpayer money involved’: Puch AI co-founder says

Amid ongoing scrutiny over its agreement with the Uttar Pradesh government, Puch AI co-founder Siddharth Bhatia has issued a detailed clarification, stating that the Memorandum of Understanding (MoU) signed with the state does not involve any public funds and is designed to attract investment rather than use taxpayer money.

In a post on social media platform X, Bhatia said the partnership is structured as a public-private initiative and will be executed in phases with support from external investors.

“The company has not received any funding, GPUs or other support from the government, and that citizens will instead benefit through free access to AI services in local languages via its platform,” he stated.

The clarification comes at a time when the Uttar Pradesh government has also emphasised that the MoU is non-binding and only a preliminary step.

Chief Minister Yogi Adityanath had earlier said such agreements do not guarantee final project approval and are subject to detailed evaluation. Responding to reports about the company’s financials, Bhatia said claims that Puch AI has a revenue of Rs42.9 lakh are incorrect and stem from confusion with another firm.

He clarified that Puch AI’s financial details are not public but described the startup as “well-funded” and not bootstrapped.