AI company offer- Accept or reject?

Hello all, I am working as a SDE-2 in a fintech company with a decent package, I have got an offer from an Indian AI company with a valuation of ~2M USD, which is offering me the position of tech lead and equity of 1% but a salary decline of about 20%.

Company is very small with a CTO cum co-founder and other two co-founders.

Should I consider it as risk is huge but company is growing rapidly and plans to become profitable in the next 6-8 months.