Sarvam becomes India’s newest AI unicorn with $234 million funding round led by HCLTech

Sarvam has raised $234 million at a $1.5 billion valuation, the company announced on Monday. The Bengaluru-based company is now India’s newest AI unicorn, as governments and companies seek greater control over critical artificial intelligence technologies and computing infrastructure. $150 million of that money will come from HCLTech, the IT subsidiary of Indian conglomerate HCL Group and lead strategic investor in the round. Bessemer Venture Partners also participated alongside existing backers Khosla Ventures and Peak XV Partners. Sarvam hopes to raise a total of $300 million for its Series B round.

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