India, June 16 -- Sarvam, India's full-stack sovereign AI company, has announced the first close of its Series B funding round, raising $234 million out of a targeted $300 million at a post-money valuation of $1.5 billion.

With this milestone, the Bengaluru-based company has officially become India's newest AI unicorn.

The funding round saw participation from HCLTech and Bessemer Venture Partners, along with continued support from existing investors Khosla Ventures and Peak XV Partners.

Sarvam operates across the AI stack, including training and inference infrastructure, frontier model research, and a go-to-market strategy spanning enterprises, developers, and government clients. The fresh capital will be used to advance research on it...