Bengaluru-based AI startup Sarvam AI is in early talks to raise $250 million to $300 million at a $3 billion valuation, The Economic Times reported. That would double its valuation in four months. The round could make Sarvam India’s most valuable AI startup. The size and valuation may change as talks go on, the report said. Sarvam did not confirm the talks when Analytics India Magazine asked for comment.
Keeping Control in Indian Hands
Sarvam is also speaking with large domestic enterprises and institutions. It wants to keep a substantial shareholding with Indian entities. These talks are at an early stage.
The Last Round
In June, Sarvam raised $234 million in the first close of its $300 million Series B. The post-money valuation was $1.5 billion. HCLTech led the round with a $150 million investment. Bessemer Venture Partners and existing investors Khosla Ventures and Peak XV Partners also joined. NVIDIA and IndiGo Ventures took part in a $75 million extension.
What Sarvam Builds
Vivek Raghavan and Pratyush Kumar founded Sarvam in 2023. It builds Indian-language AI models and applications for government agencies and businesses. Banking and insurance are key sectors. Its customers include Life Insurance Corporation of India, SBI Life, IDFC First Bank, Tata Capital and CRED.
The company is expanding across AI models, computing infrastructure and enterprise deployments. It plans to build a trillion-parameter model and open an office in San Francisco to hire researchers. It has also hired Sashikumar Sreedharan, the former head of Google Cloud India.
A Government Win in Maharashtra
Sarvam’s Indus AI workspace has won approval for use across Maharashtra government departments. It will handle drafting, translation and document analysis. Government data for the rollout will be hosted within India.
