BENGALURU: Bengaluru-based AI company Sarvam has raised USD 234 million in the first close of its USD 300 million Series B funding round at a post-money valuation of USD 1.5 billion.
The funding round saw participation from HCLTech and Bessemer Venture Partners, while existing investors Khosla Ventures and Peak XV Partners also continued their support. HCLTech is investing USD 150 million as the lead strategic investor, the company said in a press release.
Sarvam said the fresh capital will be used to advance research on its next frontier AI model focused on agentic, coding, and cybersecurity applications. The company also plans to expand access to large-scale computing infrastructure and strengthen its presence across key sectors.
Co-founder Pratyush Kumar said the company sees significant opportunities in developing AI systems that can operate at India’s scale, understand local languages and documents, and provide affordable intelligence solutions for enterprises and governments. He added that Sarvam is building a full-stack offering that enables organisations to own and operate sovereign AI systems.
HCLTech CEO and Managing Director C Vijayakumar said the investment would help strengthen India’s AI ecosystem by combining Sarvam’s AI research capabilities with HCLTech’s global reach and enterprise expertise to deliver secure, scalable, and responsible AI solutions.
Sarvam said it has recently released several AI models trained entirely in India. These include Sarvam 105B, which the company claims performs competitively on reasoning and agentic benchmarks, and Sarvam 30B, designed to run on consumer hardware. Its Sarvam Vision platform is being used to digitise more than 35 million pages of documents, while its speech models process over half a million hours of audio every month.
The company stated that its products are gaining traction across banking, insurance, government technology, and defence sectors. Its conversational AI platform now handles more than two million interactions daily, while its inference platform processes around 10 million API calls each day.
Sarvam also highlighted the impact of its large-scale deployments. The company said its multilingual voice agents helped collect data from 17 million farmers for the Ministry of Agriculture and Farmers Welfare, while a nationwide voice campaign for a major insurance provider supported policy renewals for 45 million customers.
Co-founder Vivek Raghavan said the company aims to make AI widely accessible across India for citizens, businesses, and governments, adding that the partnership with HCLTech demonstrates how Indian corporations can contribute to building foundational AI capabilities.
Bessemer Venture Partners Partner Pankaj Mitra said Sarvam is developing a sovereign AI platform designed to serve India’s large population, critical sectors, and enterprises, and praised the company’s combination of research expertise, engineering talent, and institutional trust.
Sarvam develops AI infrastructure, models, and products for enterprises, developers, and government agencies, with a focus on banking, insurance, government technology, and defence.
