Sarvam, India’s full-stack sovereign artificial intelligence (AI) company, became a unicorn with a post valuation of $1.5 billion, as the firm raised $234 million (around ₹2,210 crore). This is the first close of its $300 million Series B round.
HCLTech and Bessemer Venture Partners invested in the round, with continued support from existing investors Khosla Ventures and Peak XV Partners.
As part of the fund raise, HCLTech, India’s third largest information technology (IT) services player, will acquire 10.46 per cent stake in the company for a total investment of ₹1,427.25 crore. HCLTech is the lead strategic investor in this round.
Sarvam’s last valuation was $196 million in 2025, as it raised $228,000 from Avvanti Advisors, according to data from Tracxn.
By combining its deep enterprise transformation expertise, trusted global client relationships, data and other software IP, and engineering depth, HCLTech would accelerate Sarvam’s goal of building a powerful, end-to-end sovereign AI ecosystem for India and beyond, the company said.
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.
“We are clear that research-led innovation to create AI that works at India’s scale is a very large opportunity. That means models that understand our voices, read our documents, and serve intelligence at a cost every enterprise and government can afford. Building on this template, we are innovating on a full-stack offering for enterprises to own and operate their own sovereign,” said Pratyush Kumar, cofounder of Sarvam.
Sarvam builds across the AI stack: training and inference infrastructure, frontier model research, and a go-to-market motion spanning enterprises, developers, and government.
C Vijayakumar, chief executive officer (CEO) and managing director (MD) of HCLTech said, “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.”
According to HCLTech’s regulatory filings, Sarvam’s FY26 revenue stood at ₹45 crore.
In the last few months, Sarvam has released foundational models, all trained from scratch in India. Sarvam 105B matches or outperforms larger reasoning models on knowledge, reasoning, and agentic benchmarks, while Sarvam 30B is optimised for the edge, running on consumer hardware. Sarvam Vision, built for handwriting and Indian-language records, is being used to digitise over 35 million pages from insurance forms to legacy land records. Sarvam’s speech models work in India’s complex settings, transcribing over half a million hours of audio each month.
Sarvam’s conversational platform now handles over 2 million interactions a day, with usage doubling in the last two months. Its agentic platform is scaling rapidly. A leading fintech powers its 350,000-strong sales force with a sales enablement platform that is delivering demonstrable gains. Sarvam’s models are also being adopted by developers served on its inference platform in India which processes 10 million API calls daily, with usage tripling in the last three months.
“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, cofounder of Sarvam.
The fund raise comes at a time when the US government has put a ban on AI models of Anthropic, raising concern about the AI being used as a weapon. It is also raising demand that India should focus on building its own sovereign AI models.
