India, June 15 -- AI startup Sarvam has become India's 130th unicorn after raising $234 Mn (about Rs.2,210 Cr) as part of its $300 Mn Series B funding round at a post-money valuation of $1.5 Bn.

The funding round was led by HCLTech, and also saw participation from Bessemer Venture Partners, Khosla Ventures and Peak XV Partners. HCLTech will invest $150 Mn as part of the round.

As per HCLTech's filing with the exchanges, the company acquired 41,421 equity shares or 10.46% stake in Sarvam for Rs.1,427.3 Cr.

The startup will use the fresh capital for its research efforts, including the development of next-generation AI models focused on agentic AI, coding and cybersecurity applications. It also plans to expand its compute infrastructure a...