Sarvam Raises $234M to Become India's Newest AI Unicorn

India's AI startup Sarvam AI (operated by Axonwise Pvt. Ltd.) has raised $234 million in the first close of its Series B round, reaching a post-money valuation of $1.5 billion and becoming India's newest AI unicorn. The round was led by IT services giant HCLTech with roughly $150 million (a 10.46% stake, equivalent to Rs 1,427 crore), with Bessemer Venture Partners joining as a new investor and existing backers Khosla Ventures and Peak XV Partners also participating. The target size is $300 million, with the remainder still being raised. (Moneycontrol, Economic Times)