Sarvam AI in talks to raise $250-300 million from Nvidia, Accel, HCLTech

Foundational artificial intelligence (AI) startup Sarvam AI is in early talks to raise $250-300 million from US chipmaker Nvidia, Indian software services company HCLTech, and venture capital firm Accel, people aware of these discussions told ET. The round will value the company at about $1.2 billion, more than 10 times its last valuation of around $110 million, at which it raised in 2023, one of the persons said.

This will make it one of the first foundational model startups from India to enter the unicorn club amid rising investor interest in sovereign AI capabilities.