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HCLTech plans to invest $150 million in Bengaluru-based startup Sarvam AI as part of a $300 million funding round valuing the company at $1.5 billion. The deal highlights growing interest in AI investments as Indian IT firms face pressure to adapt to rapidly changing technology trends

India’s third-largest information technology (IT) company, HCLTech, is planning to invest $150 million in home-grown artificial intelligence startup Sarvam AI.

The investment will be part of the latest funding round to be raised by the Bengaluru-based startup, Moneycontrol reported.

Sarvam AI is organising a $300 million funding round at a valuation of $1.5 billion. This valuation is about seven times higher than its last funding round in 2023. The report said this could become the biggest funding round for an Indian AI company in recent years.

HCLTech will lead the funding round, while venture capital firm Bessemer Venture Partners (BVP) will also invest $50 million.