Bengaluru: Homegrown artificial intelligence startup Sarvam AI is in talks to raise another $250-300 million at a $3 billion valuation, according to people aware of the discussions cited by The Economic Times on Tuesday. If completed, the round would double the company's valuation from just four months ago.
In June, Sarvam had secured more than $300 million at a $1.5 billion valuation. The new round, the report says, would potentially make it the highest-valued AI startup in the country.
What Sarvam does
Sarvam builds Indian-language AI models and applications for government agencies and businesses, including banks and insurers. Its customers include Life Insurance Corporation of India, SBI Life, IDFC First Bank, Tata Capital and Cred, according to the report.
The Maharashtra government has approved the deployment of Sarvam's Indus AI workspace across departments for drafting, translation and document analysis, with government data hosted within India.
A sign of India's AI momentum
The reported raise underlines the surge of investor interest in Indian AI startups building for domestic languages and enterprise use-cases. The talks were described as ongoing, with the final terms yet to be settled, the report said.
Sources:
AI startup Sarvam in talks for $300 million top-up; valuation may double to $3 billion (The Economic Times)
In June, Sarvam had secured more than $300 million at a $1.5 billion valuation. The new round, the report says, would potentially make it the highest-valued AI startup in the country.
What Sarvam does
Sarvam builds Indian-language AI models and applications for government agencies and businesses, including banks and insurers. Its customers include Life Insurance Corporation of India, SBI Life, IDFC First Bank, Tata Capital and Cred, according to the report.
The Maharashtra government has approved the deployment of Sarvam's Indus AI workspace across departments for drafting, translation and document analysis, with government data hosted within India.
A sign of India's AI momentum
The reported raise underlines the surge of investor interest in Indian AI startups building for domestic languages and enterprise use-cases. The talks were described as ongoing, with the final terms yet to be settled, the report said.
Sources:
AI startup Sarvam in talks for $300 million top-up; valuation may double to $3 billion (The Economic Times)
