Sarvam raises $75 million; Ather trims losses in Q1
AI startup Sarvam will raise $75 million as part of a larger funding round. This and more in today’s ETtech Top 5.
Sarvam, a homegrown artificial intelligence startup, plans to raise $75 million as part of a larger $300-310 million funding round led by Nvidia, Glade Brook, Gaja Capital, IndiGo Ventures, and individual investors. The funding will value Sarvam at $1.5 billion. The company aims to compete with global AI models like Anthropic's Claude, Google's Gemini, and OpenAI's ChatGPT by building a trillion-parameter model.
Meanwhile, Ather Energy, an electric two-wheeler maker, reported a narrower net loss of Rs 51.1 crore in Q1 2023, down from Rs 178.2 crore in the same period last year. The company's revenue increased by 89% year-on-year to Rs 1,217 crore. Ather's CEO, Tarun Mehta, expressed optimism about meeting strong demand for their scooters, stating that they could have sold an additional 13,000-15,000 vehicles monthly if capacity permitted.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
