- Sarvam AI is set to raise $74 million (approximately ₹700 crore) in an extension of its Series B funding round, led by NVIDIA Corporation.
- NVIDIA will invest ₹238 crore (around $25 million), making it the largest investor in this funding round.
- Glade Brook Capital and Gaja Capital will contribute ₹190.3 crore (about $20 million) and ₹95 crore, respectively.
- The funding round is expected to value Sarvam AI at around $1.51 billion post-money.
- This funding round follows a previous $234 million investment led by HCL Technologies, which helped Sarvam AI achieve unicorn status.
- Sarvam AI develops large language models (LLMs) and AI solutions focused on Indian languages and local use cases.
- The company has recently launched foundation models such as Sarvam 105B and Sarvam Vision, trained within India to enhance the country's AI ecosystem.
Sarvam AI, founded by Vivek Raghavan and Pratyush Kumar, is poised to raise ₹700 crore ($74 million) in an extended Series B funding round led by NVIDIA, which will contribute ₹238 crore ($25 million). This funding round also includes investments from Glade Brook Capital and Gaja Capital, among others.12346
According to filings with the Registrar of Companies, Sarvam AI's board has approved the issuance of 20,244 Series B compulsorily convertible preference shares at an issue price of ₹344,570 per share. This capital infusion is expected to elevate Sarvam AI's post-money valuation to approximately ₹14,342 crore ($1.51 billion).
The latest funding comes shortly after Sarvam AI secured $234 million in a previous round led by HCL Technologies, which propelled the startup into the unicorn club. Following this transaction, NVIDIA is projected to hold a 1.66% stake in Sarvam AI, while HCL Technologies' stake will dilute to 9.95%.5
Sarvam AI specializes in developing large language models (LLMs) and AI solutions tailored for Indian languages. The company has recently launched several foundation models, including Sarvam 105B and Sarvam Vision, aimed at strengthening India's indigenous AI ecosystem. Additionally, the startup was selected by the central government to develop India's first sovereign foundation AI model under the IndiaAI Mission, further solidifying its role in the country's AI landscape.7
“NVIDIA will put in around $25 million, making it the largest investor in the extension round, while the infusion values Sarvam AI at about $1.51 billion post-money. The board has approved issuing 20,244 Series B compulsorily convertible preference shares at ₹344,570 apiece, coming just months after a $234 million HCL Technologies-led round.”
