India’s artificial intelligence ecosystem reached a new milestone as Bengaluru-based Sarvam secured $234 million in fresh funding, achieving a valuation of $1.5 billion and becoming the country’s latest AI unicorn.
The funding round was led by HCLTech, which committed $150 million as the lead strategic investor. Other participants included Bessemer Venture Partners, along with existing investors Khosla Ventures and Peak XV Partners. Sarvam is targeting a total raise of $300 million in its Series B round.
The investment comes more than 2 years after the company raised $41 million through its Seed and Series A rounds. Earlier this year, Sarvam also introduced open-source AI models with 30 billion and 105 billion parameters.
The latest funding reflects the growing global focus on sovereign AI capabilities as countries and businesses seek greater control over artificial intelligence technologies and computing infrastructure.
Sarvam is building a full-stack AI ecosystem that includes AI model development, inference infrastructure and enterprise applications. Its AI models are designed for Indian languages and are already being deployed across banking, insurance, government services and defence sectors.
The partnership with HCLTech is expected to combine Sarvam’s AI capabilities with HCLTech’s enterprise network, engineering expertise and software assets to develop AI solutions for businesses and governments.
The company plans to use the new capital to advance research in next-generation AI models focused on agentic AI, coding and cybersecurity while expanding computing infrastructure.
Sarvam revealed that its conversational AI platform currently manages more than 2 million interactions daily, while its inference platform processes around 10 million API calls every day. Its speech models transcribe over 500,000 hours of audio each month, and its document AI systems have digitised more than 35 million pages of records.
The company’s multilingual voice agents have collected information from 17 million farmers for the Ministry of Agriculture and Farmers Welfare. It also supported policy renewals for 45 million policyholders through a nationwide voice campaign for a leading insurer.
Founded by Vivek Raghavan and Pratyush Kumar, Sarvam continues to position itself as one of India’s leading homegrown AI innovators.
“Our ambition is to diffuse this technology widely in India, creating significant value across sectors for citizens, small businesses, enterprises, and state and central governments,” Raghavan said. “We are positioned to both help them adopt and innovate on AI.”
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream LinkedIn | The Mainstream Facebook | The Mainstream Youtube | The Mainstream Twitter
About us:
The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future.