HCLTech Leads $234 Million Funding Round in Sarvam at $1.5 Billion Valuation
India's sovereign AI startup Sarvam has raised $234 million in the first close of its $300 million Series B funding round, valuing the company at $1.5 billion post-money. The round was led by HCLTech, which committed $150 million as a strategic investor, alongside participation from Bessemer Venture Partners and existing backers Khosla Ventures and Peak XV Partners.
The Bengaluru-based company said the fresh capital will be used to advance research on its next frontier AI models focused on agentic systems, coding, and cybersecurity applications, while also expanding access to large-scale computing infrastructure needed to support enterprise and government deployments.
The funding round is notable because it was led by HCLTech, one of India's largest IT services companies, rather than a global technology platform or cloud provider.
HCLTech's investment is expected to translate into a stake of about 10.5% in Sarvam, according to a Reuters report. The deal marks one of...
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