HCL Technologies Limited has invested Rs 1,427.25 crore in Axonwise Private Limited (Sarvam AI), acquiring a 10.46% stake through 41,421 equity shares. The investment was announced through an exchange filing on June 15, 2026.
The all-cash transaction is part of Sarvam AI's $300 million Series B round, which has achieved a first close of $234 million at a post-money valuation of $1.5 billion. HCLTech led the round as the strategic investor with $150 million, alongside Bessemer Venture Partners, and existing investors Khosla Ventures and Peak XV Partners.
Sarvam AI reported a turnover of Rs 45.10 crore for FY 2026, compared to Rs 1.50 crore in FY 2025. Sarvam AI, incorporated on July 14, 2023, builds India's full-stack sovereign AI platform across research, models, infrastructure, and applications, with a focus on banking, insurance, government technology, and defence.
The investment will fund Sarvam's research and development for its next-generation frontier models for agentic AI, coding, and cybersecurity use cases. HCLTech plans to leverage Sarvam's AI capabilities to develop industry-specific language models for its global client base and expand multilingual AI solutions for sovereign AI initiatives.
Sarvam AI's conversational platform handles over 2 million interactions daily, while its inference platform processes 10 million API calls daily. Sarvam AI's partners include SBI Life, LIC, IDFC, Tata Capital, and CRED.
The transaction is expected to be completed within two weeks of signing. No governmental or regulatory approvals are required for the acquisition.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.