Sarvam AI Startup Secures $74 Million Funding for Growth

Sarvam, a prominent AI startup, is on track to secure $74 million (approximately Rs 700 crore) as part of its extended Series B funding round. This initiative is spearheaded by NVIDIA Corporation and sees participation from several investors, including Glade Brook Capital, Gaja Capital, Indigo Ventures, among others. This news follows Sarvam’s prior success in raising $234 million, led by HCL Technologies, which elevated the company to unicorn status.

According to the filing made with the Registrar of Companies (RoC), Sarvam AI’s board approved a special resolution to issue 20,244 Series B preference shares along with 7 equity shares, each priced at Rs 3,44,570. This issuance aims to garner a total of Rs 698 crore or $74 million.

NVIDIA’s Significant Investment in Sarvam

NVIDIA Corporation will play a pivotal role in this funding round with a contribution of Rs 238 crore ($25 million). Following them, Glade Brook Capital has pledged to invest Rs 190.3 crore ($20 million). Additional participants include Gaja Capital and investors Sanjay Kalra and Jyotika Kapoor, contributing Rs 95 crore and Rs 50 crore, respectively. The funding also includes participation from angel investors and family offices, such as Vrijesh Agarwal, KJ Trust, and AL Trust.

Sarvam’s Innovative AI Solutions

Founded by Vivek Raghavan and Pratyush Kumar, Sarvam is focused on the development of AI models, inference infrastructure, and enterprise AI products specifically designed for Indian languages and local use cases. Recently, the startup unveiled a series of foundational models developed from scratch in India, including Sarvam 105B, Sarvam 30B, and Sarvam Vision.

As per an analysis conducted by Startup Superb, Sarvam is projected to achieve a post-money valuation of around Rs 14,342 crore or $1.51 billion. After this investment round, NVIDIA Corporation is expected to hold a 1.66% stake in Sarvam, while Glade Brook Capital will own 1.33%. The stake held by HCL Technologies will decline to 9.95%, and the founders will maintain a significant 38.44% stake in the company.

Moreover, the company has recently appointed Devendra Singh Chaplot, a founding member of Thinking Machines Lab, as an advisor.