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Sovereign AI company Sarvam has raised USD 234 million (around INR 2,200 crore) in the first close of its USD 300 million Series B funding round at a post-money valuation of USD 1.5 billion. The round saw participation from HCLTech, Bessemer Venture Partners, Khosla Ventures and Peak XV Partners. HCLTech will invest INR 1,427.25 crore to acquire a 10.46 per cent stake, with the capital earmarked for developing next-generation AI models and expanding sovereign AI deployments across industries.
Sovereign AI company Sarvam has raised USD 234 million (approximately INR 2,200 crore) in the first close of its USD 300 million Series B funding round at a post-money valuation of USD 1.5 billion. The company announced the fundraise on Monday, stating that the capital will support research, model development and the expansion of its sovereign AI platform for India.
The funding round attracted participation from HCLTech and Bessemer Venture Partners, alongside continued backing from existing investors Khosla Ventures and Peak XV Partners. According to the company, the investment will be utilised to advance research on its next frontier AI models for agentic AI, coding and cybersecurity applications, while also providing access to large-scale computing infrastructure to accelerate deployment across key sectors.
Separately, HCLTech disclosed in a regulatory filing that it will invest INR 1,427.25 crore, or around USD 150 million, to acquire a 10.46 per cent stake in Sarvam. The transaction involves the acquisition of 41,421 equity shares and is expected to be completed within two weeks of signing the agreement.
The technology company stated that the investment represents a step towards strengthening India's sovereign AI ecosystem by combining Sarvam's research capabilities with HCLTech's global reach. The collaboration is expected to create a full-stack AI platform serving enterprises and governments while supporting the delivery of secure, scalable and responsible AI solutions.
Sarvam is developing what it describes as India's full-stack sovereign AI platform, spanning research, foundational models, infrastructure and applications. The company aims to build AI technologies designed for domestic requirements while supporting broader adoption across industries and public sector use cases.
According to the regulatory filing, the transaction does not require any regulatory approval. HCLTech stated that its independent investment will enable Sarvam to continue research and development for training next-generation frontier models focused on agentic AI, coding and cybersecurity while expanding compute capacity for deployments across multiple industry verticals.
Sarvam reported revenue of INR 45.1 crore during the 2025-26 financial year. HCLTech said the investment will also enable it to develop industry-specific and client-specific language models and AI solutions for its global customer base, delivering improved price-to-performance outcomes and differentiated enterprise AI offerings.
The company further noted that it intends to leverage and expand Sarvam's multilingual AI capabilities within India and international markets for sovereign AI initiatives as well as enterprise deployments. The partnership is expected to accelerate the development and adoption of localised, secure and compliant AI solutions for governments, regulated industries and enterprises requiring sovereign AI infrastructure.
Source - PTI
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