Sarvam raises USD 234 mn in funding round from HCLTech, others

New Delhi, Jun 15 (PTI) Sovereign AI company Sarvam has raised USD 234 million (about Rs 2,200 crore) at a post-money valuation of USD 1.5 billion, the firm said on Monday.

HCLTech and Bessemer Venture Partners took part in the funding round, with continued support from existing investors Khosla Ventures and Peak XV Partners.

“Sarvam, India’s full-stack sovereign AI company, has raised USD 234 million in the first close of its USD 300 million Series B at a post-money valuation of USD 1.5 billion,” the company said in a statement.

The investment will fund Sarvam’s continued research on training its next frontier model for agentic, coding, and cybersecurity use-cases, as well as access to compute at scale to expand its forward-deployed motion across

key verticals, the sovereign AI firm said.

HCLTech in a regulatory filing said that it will take a 10.46 per cent stake in Sarvam for Rs 1,427.25 crore or about USD 150 million.

“Total investment of Rs 1,427.25 crores. 41,421 equity shares for a 10.46 per cent stake in Sarvam AI will be acquired,” HCLTech said in a filing on Monday.

HCLTech expects to close the transaction within two weeks of signing the agreement.

“Our investment in Sarvam marks a significant step toward building India’s trusted and globally competitive AI ecosystem. By bringing together Sarvam’s research in AI models with HCLTech’s global presence, we are creating a differentiated full-stack AI platform for enterprises and governments, strengthening our ability to deliver secure, scalable, and responsible AI solutions,” HCLTech, CEO and Managing Director, C Vijayakumar said.

Sarvam AI is building the foundational model of Sovereign AI for India. The company is developing India’s full-stack Sovereign AI platform across research, models, infrastructure, and applications, built to advance AI for all of India.

The transaction does not require any regulatory approval, the filing said..

“This independent investment by HCLTech will fund Sarvam’s continued research and development for training its next-generation frontier models for agentic AI, coding, and cybersecurity use cases, as well as access to compute at scale to expand its deployment across key industry verticals,” the filing said.

Sarvam AI reported revenue of Rs 45.1 crore in 2025-26.

“The investment will enable HCLTech to develop industry and client specific language models and AI solutions for its global client base, delivering compelling price-to-performance outcomes and enabling differentiated enterprise AI solutions across industries,” the filing said.

HCLTech will leverage and expand Sarvam’s multilingual AI capabilities in India and beyond India for both sovereign AI initiatives and enterprise deployments across global markets.

The deal is expected to accelerate the development and adoption of sovereign AI solutions for governments, regulated industries, and enterprises seeking localised, secure, and compliant AI deployments. PTI PRS PRS MR