Sarvam AI becomes unicorn after raising $234 Mn Series B led by HCLTech
Prior to this, Sarvam had raised $41 million in its Series A round in 2023, which was led by Peak XV Partners.
Indian artificial intelligence startup Sarvam has entered the unicorn club after raising $234 million in the first close of its $300 million Series B funding round, valuing the company at approximately $1.5 billion.
The round was led by HCLTech as a strategic investor, with participation from existing backers including Bessemer Venture Partners, Khosla Ventures, and Peak XV Partners. HCLTech has committed $150 million as part of the investment.
The fresh capital will be deployed towards developing next-generation AI models focused on agentic AI, coding, and cybersecurity, while expanding computing infrastructure and accelerating AI deployments for enterprise and government customers.
Founded in 2023 by Vivek Raghavan and Pratyush Kumar, Sarvam develops foundational AI models, inference infrastructure, and enterprise AI solutions tailored for Indian languages and local use cases.
The startup has built AI models including Sarvam-30B and Sarvam-105B, which are designed to support multilingual AI applications and address India-specific requirements across businesses and public-sector use cases.
“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. We are positioned to both help them adopt and innovate on AI. The partnership with HCLTech provides a unique example of an Indian corporate helping build foundational strength in AI,” said Vivek Raghavan, Co-Founder of Sarvam.
According to the company, its AI platform is being adopted by enterprises and public sector organisations, with customers including SBI Life Insurance, Life Insurance Corporation of India, Tata Capital, CRED, and IDFC.
Prior to the latest funding round, Sarvam had raised $41 million in its Series A round in 2023, which was led by Peak XV Partners.
The latest investment comes amid increasing focus on sovereign AI infrastructure, as companies and governments globally look to develop AI systems that can support regional languages, local data requirements, and industry-specific applications.
Sarvam’s entry adds to India’s growing unicorn ecosystem in 2026.