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Sarvam AI becomes unicorn; HCLTech acquires over 10%
Business Standard
|June 16, 2026
Sarvam AI, India's full-stack sovereign artificial intelligence (AI) company, has become a unicorn after raising $234 million, or around ₹2,210 crore, in a Series B funding round.
The round was led by HCLTech and Bessemer Venture Partners, with participation from existing investors Khosla Ventures and Peak XV Partners. The fundraise marks a sharp jump from Sarvam's previous valuation of about $196 million in 2025, after it raised $228,000 from Avvanti Advisors, according to Tracxn data.
As part of the transaction, HCLTech will acquire a 10.46 per cent stake in the Bengaluru-based startup for ₹1,427.25 crore, making it the lead strategic investor. Sarvam joins Bhavish Aggarwal-founded Krutrim as only India's AI startups to achieve unicorn status.
The funding comes amid growing calls for India to develop sovereign AI capabilities following the US government's export-control order blocking foreign nationals from accessing Anthropic's Fable 5 and Mythos 5 models.
This story is from the June 16, 2026 edition of Business Standard.
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