Sarvam AI nears $300–350 million funding round at $1.5 billion valuation: Report

India’s homegrown artificial intelligence startup Sarvam AI is close to raising between $300 million and $350 million in a fresh funding round, as it looks to build a domestic challenger to global AI leaders, according to a Bloomberg report.

The Bengaluru-based company is expected to be valued at $1.5 billion to $1.55 billion in the round, which could close as early as next week, Bloomberg reported, citing sources.

Bessemer Venture Partners is likely to lead the round, with participation from Nvidia, Amazon and Prosperity7 Ventures, the report added.