Sarvam plans big fundraise; HCLTech's Q2 profit jumps
Happy Tuesday! Sarvam is in talks for a big round that could double its valuation to $3 billion. This and more in today’s ETtech Morning Dispatch.
AI startup Sarvam is in discussions for a $300 million top-up round, potentially doubling its valuation to $3 billion. Founders Vivek Raghavan and Pratyush Kumar are engaging in talks with large domestic enterprises and institutions to maintain significant ownership within the Indian market. The company is investing in larger models and computing infrastructure for enterprise deployments, with plans to open an office in San Francisco to attract researchers.
Sarvam's recent success includes securing over $300 million at a $1.5 billion valuation in June, with key investors including HCLTech, Nvidia, and IndiGo Ventures. The startup aims to build Indian-language AI models for government agencies, banks, and insurers, with existing customers such as Life Insurance Corp. of India, SBI Life, and Cred.
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.
