Homegrown Sarvam turns unicorn as sovereign AI startup secures major funding

India’s full-stack sovereign AI start-up — Sarvam — has become a unicorn, having raised $234 million in the first close of its $300 million series B round at a post-money valuation of $1.5 billion.

Venture rounds often happen in stages. A first close means the company has already secured commitments from investors amounting to $234 million, even though they’re targeting $300 million in total in the round.