India-based AI startup Sarvam AI has raised US$234 million in an ongoing funding round led by HCLTech, according to a company press release.

Bessemer Venture Partners and existing investors Khosla Ventures and Peak XV Partners also participated in the round, which values Sarvam AI at US$1.5 billion.

Sarvam AI builds multilingual large language, speech, translation, and vision models for Indian languages.

It also offers an enterprise agent platform for businesses, government agencies, and developers.

The round is larger than the startup’s 7 December 2023 series A funding round, when it raised US$41 million in a deal led by Lightspeed.

HCLTech’s role stands out because Sarvam AI says it is building an AI stack in India, and the round is led by a strategic investor rather than a venture firm.

🔗 Source: The Economic Times

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