Sarvam, a sovereign AI firm, on Monday (June 15, 2026) said it has raised $234 million in the first close of its $300 million Series B at a post-money valuation of $1.5 billion.

HCLTech and Bessemer Venture Partners invested in the round, with continued support from existing investors Khosla Ventures and Peak XV Partners, said Sarvam in a statement. The investment is expected to fund Sarvam’s continued research on training its next frontier model for agentic, coding, and cybersecurity use-cases, as well as access to compute at scale to expand its forward-deployed motion across key verticals.

HCLTech would invest $150M as the lead strategic investor in this round. By combining its deep enterprise transformation expertise, trusted global client relationships, data and other software IP, and engineering depth, HCLTech would accelerate Sarvam’s goal of building a powerful, end-to-end sovereign AI ecosystem for India and beyond, it said.C Vijayakumar, CEO & Managing Director of HCLTech said, “By bringing together Sarvam’s research in AI models with HCLTech’s global presence, we are creating a differentiated full-stack AI platform for enterprises and governments, strengthening our ability to deliver secure, scalable, and responsible AI solutions.”

HCL’s investment in Sarvam marked a significant step toward building the country’s globally competitive AI ecosystem, Mr. Vijayakumar said.

According to Sarvam, it builds across the AI stack: training and inference infrastructure, frontier model research, and a go-to-market motion spanning enterprises, developers, and government. In the last few months, Sarvam has released foundational models, all trained from scratch in India, the firm claimed.