New Delhi, Jan. 8 -- Aditya Birla Ventures, the private capital investment arm of the Aditya Birla Group, said on Thursday that it was one of the investors backing a $70 million Series B funding round in US-based AI startup Articul8.

Though the company didn't disclose the amount it has invested, the bet makes the metals-to-fashion conglomerate the latest to join an increasing number of India's top business groups venturing into artificial intelligence (AI), even as concerns grow that the technology may be overhyped.

The Santa Clara, California-headquartered startup, which claimed to have hit a valuation of "over $500 million" with this funding round, specializes in offering companies AI models that run in silos and within their own IT s...