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Sarvam Eyes $3B Valuation in New Funding Round
13 Oct
Summary
- Sarvam seeks $250-300 million in new funding.
- Potential valuation reaches $3 billion, doubling in four months.
- Startup develops Indian-language AI for government and businesses.
Indian AI startup Sarvam is reportedly in discussions to secure $250-300 million in new funding, potentially valuing the company at $3 billion. This valuation represents a doubling in just four months, following a $300 million round in June at a $1.5 billion valuation. Sarvam focuses on developing AI models and applications in Indian languages, catering to government entities and businesses including banks and insurers. The Maharashtra government has approved the deployment of its Indus AI workspace across departments for various document processing tasks, with data hosted within India.
The company has outlined ambitious plans, including a trillion-parameter model and establishing an office in San Francisco to attract researchers. Sarvam has also expanded its leadership, hiring former Google Cloud India head Sashikumar Sreedharan as president and chief business officer. These developments underscore Sarvam's push for sovereign AI capabilities, aiming to compete with global players while ensuring significant Indian ownership and control over its technology.
