Nvidia bets on Sarvam AI; Sidbi eases fund rules for VCs
Happy Wednesday! Sarvam’s Pratyush Kumar has confirmed adding Nvidia to the AI startup’s captable. This and more in today’s ETtech Morning Dispatch.
Nvidia has become the first investor from India in AI startup Sarvam AI, joining the company's $75 million Series B funding round. Sarvam AI cofounder Pratyush Kumar confirmed Nvidia's strategic investment, highlighting the chipmaker's support as encouraging as it enables the company to scale its compute infrastructure. This marks a natural progression in a deep technical relationship between the two entities, as Sarvam has contributed improvements back to Nvidia's software stack.
The $75 million extension is part of a larger $300-310 million funding round, led by HCLTech and featuring participation from Glade Brook, Gaja Capital, IndiGo Ventures, Bessemer Venture Partners, Peak XV Partners, and Khosla Ventures. Additionally, venture capital fund Activate has backed Sarvam with a $15 million investment, marking the fund's third growth-stage investment.
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