Bangalore-based artificial intelligence (AI) startup Sarvam AI has raised $234 million (approximately Rs 2,210 crore) in a new funding round, becoming India’s 130th unicorn. The investment, led by leading IT company HCL Tech, takes Sarvam’s total valuation to $1.5 billion. The company will use the new capital to research next-generation AI models, develop cybersecurity applications, and expand its computing infrastructure.

Founded in 2023 by Pratyush Kumar and Vivek Raghavan, the company has already launched several advanced AI models, such as Sarvam-1 and Sarvam-105B, which support Indian languages. Sarvam's services are currently used in banking, insurance, defense, and government sectors. The company's revenue has increased significantly from Rs 1.5 crore in the last financial year to Rs 45.1 crore this year, according to figures.

Sarvam's voice AI business is the company's main source of revenue. More than 2 million communications are made through their conversational AI platform every day. The company is now preparing to make its platform available to startups and small businesses in addition to large corporates. Sarvam has also partnered with space technology startup Pixxel to develop 'Pathfinder', an orbital data center satellite scheduled to be launched in 2026.