Sarvam AI in talks for $300 million funding at $3 billion valuation
Homegrown AI startup Sarvam is in talks to raise $250-300 million at a $3 billion valuation, sources told ET. The deal could double its valuation within four months and make it India's most valuable AI startup.
The discussions are early and involve large domestic enterprises and institutions, with the aim of keeping significant shareholding with Indian entities. The amount and valuation could change.
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Sarvam builds Indian-language AI models for government agencies, banks, and insurers. Its customers include Life Insurance Corp. of India, SBI Life, and Cred. The company secured more than $300 million at a $1.5 billion valuation in June, with HCLTech leading the round and Nvidia and IndiGo Ventures participating in a $75 million extension.
Sarvam is building larger models and computing infrastructure for enterprise deployments. It plans a trillion-parameter model and a San Francisco office to recruit researchers. It hired Sashikumar Sreedharan, the former head of Google Cloud India.
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