Indian AI startup Sarvam raised $234M in the first close of a $300M Series B at a $1.5B valuation, with HCLTech acquiring a 10.5% stake for ~$150M in cash (Urvi Dugar/Reuters)

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Urvi Dugar / Reuters:
Indian AI startup Sarvam raised $234M in the first close of a $300M Series B at a $1.5B valuation, with HCLTech acquiring a 10.5% stake for ~$150M in cash — India's HCLTech (HCLT.NS) said on Monday it will acquire a 10.5% stake in domestic generative AI startup Sarvam AI for 14.27 billion rupees …

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