Sarvam becomes India’s newest AI unicorn with a $234m round led by HCLTech

Sarvam, the Bengaluru company building India’s sovereign AI stack, has become the country’s newest AI unicorn. It has raised $234m in the first close of a $300m Series B, at a $1.5bn valuation, led by IT services giant HCLTech, which is putting in $150m. The round is a sovereign-AI bet with a strategic spine.