HCLTech Ltd agreed to acquire a 10.46% stake in Axonwise Private Ltd (Sarvam AI) for ₹1,427 crore at a valuation of $1.5 billion. The investment will be made through the acquisition of 41,421 equity shares of Sarvam AI, with the transaction expected to be completed within two weeks of signing as of Monday (June 15). Sarvam AI’s Series B funding round has seen a first close of $234 million out of a planned $300 million raise, at a post-money valuation of $1.5 billion. HCLTech is the lead strategic investor, alongside Bessemer Venture Partners, Khosla Ventures, and Peak XV Partners. Sarvam AI is an India-based sovereign AI company focused on banking, insurance, government technology, and defence, with models spanning language, speech, vision, and document processing. It reported turnover of ₹45.10 crore for FY 2026, compared with ₹1.50 crore in FY 2025 and no revenue in FY 2024, and was incorporated on July 14, 2023. HCLTech stated the investment will support research and development in next-generation frontier models for agentic AI, coding, and cybersecurity, as well as expansion of compute infrastructure and development of industry-specific language models.