HCLTech to buy 10.5% stake in Sarvam AI, valuing startup at $1.5 billion
India’s HCLTech said on Monday it will acquire a 10.5% stake in domestic generative AI startup Sarvam AI for ₹14.27 billion ($150.7 million) in cash, leading the firm’s Series B round as a strategic investor.
Sarvam was valued at $1.5 billion in the round, which raised $234 million in its first close out of a targeted $300 million, the startup said.
HCLTech said it will acquire 41,421 equity shares in the startup and fund its research and development aimed at training next-generation models for agentic AI, coding and cybersecurity use cases.
