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Artificial intelligence startup Sarvam AI has raised $234 million in the first close of its Series B funding round, marking one of the largest funding rounds for an Indian AI company to date and propelling the company into the unicorn club.
The investment values the company at $1.5 billion and is led by HCLTech, one of India’s largest technology services firms, alongside global venture capital investor Bessemer Venture Partners.
Existing backers Khosla Ventures and Peak XV Partners also participated in the round.
The funding comes at a time when India is seeking to strengthen its domestic AI capabilities amid a global race to build advanced AI systems.
