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Indian Sovereign AI Platform Sarvam AI Raises $300 Million Series B with HCLTech and Bessemer, Trilegal, TT&A, and Cyril Amarchand Mangaldas Provide Legal Counsel
Bengaluru‑based sovereign full‑stack AI company Sarvam AI, operating under the trade name Axonwise Private Limited, closed a $300 million Series B funding round on 15 June 2026. The round was led by Indian IT services firm HCL Technologies (HCLTech) and American venture capital firm Bessemer Venture Partners (BVP). Existing investors also participated.
The transaction values Sarvam AI at $1.5 billion post‑money, a figure that follows a first tranche of $234 million announced earlier in the month. The company has previously secured backing from technology giants NVIDIA and Amazon.
Legal support for the deal was provided by three major Indian law firms. Trilegal advised Sarvam AI and its founders on the transaction. TT&A Advocates & Solicitors represented HCLTech, while Cyril Amarchand Mangaldas counseled BVP.
Trilegal’s transaction team was led by partners Rahul Matthan, Nikhil Narendran, Rahil Pereira, Gauri Chhabra, and Thomas J Vallieneth. Counsel Ishika Goon, Anjana Ravi, and Madhav Tampi supported the work, with associates Shourya Pratap Singh Tomar, Dia Shetty, Muhammed Ijaz, Sarashika Eakambaram, Santosh S, and Adithi Holla contributing.
TT&A’s team for the deal included joint managing partner Gautam Saha, partner Punita Gupta, managing associate Aditi Somani, senior associate Sajjan Singh, and associate Megha Rana. The competition‑law component was handled by partner Sonam Mathur, managing associate Shubhang Joshi, senior associate Samriddha Gooptu, and associate Shashank Mehrotra.
Cyril Amarchand Mangaldas’ transaction team was led by partner Krithika Chandrasekaran, with senior associate Jayant Belgaumkar and associates Manav, Tara Ranade, and Abhisek Behera. The firm’s TMT group, headed by partners Arun Prabhu and Arpita Sengupta, assisted on intellectual‑property, AI, and data‑protection matters. Its competition‑law team, led by partners Avaantika Kakkar and Dhruv Rajain, advised on regulatory compliance.
Sarvam AI’s platform is described as a sovereign full‑stack solution that builds, deploys, and runs AI models entirely within India. The company focuses on foundation models such as Indus, multimodal AI systems, and speech‑AI tools tailored to Indian languages. Its enterprise agents are designed for region‑specific use cases.
HCLTech’s investment of 14.27 billion rupees (approximately $150.7 million) secured a 10.5 % stake in Sarvam AI. The funding move was announced on 15 June 2026 and positions HCLTech as a strategic partner in the company’s growth.
BVP’s participation follows its broader interest in AI infrastructure and enterprise platforms. The firm has a history of investing in early‑stage AI and data‑technology companies.
The combined legal effort of Trilegal, TT&A, and Cyril Amarchand Mangaldas ensured compliance with Indian competition law, intellectual‑property rights, and data‑protection regulations. The teams also coordinated the drafting of investment agreements, shareholder rights, and corporate governance documents.
Sarvam AI’s Series B round reflects continued investor confidence in India’s sovereign AI initiatives. The company is part of the IndiaAI Mission, a government program aimed at developing large‑language models that support local languages and cultural contexts.
The funding will support Sarvam AI’s expansion of its AI‑model training infrastructure, development of new language‑specific applications, and scaling of its enterprise‑grade AI services.
In the broader AI ecosystem, the deal underscores the growing partnership between Indian IT services firms and venture capital investors in the AI sector. It also highlights the importance of legal counsel in navigating complex cross‑border investment structures and regulatory frameworks.
The transaction is complete as of 15 June 2026. Sarvam AI plans to use the capital to accelerate product development and market penetration across India and potentially other emerging markets.
The deal demonstrates the maturity of India’s AI startup scene, the willingness of global investors to back sovereign AI platforms, and the critical role of specialized legal teams in facilitating large‑scale technology investments.
The transaction values Sarvam AI at $1.5 billion post‑money, a figure that follows a first tranche of $234 million announced earlier in the month. The company has previously secured backing from technology giants NVIDIA and Amazon.
Legal support for the deal was provided by three major Indian law firms. Trilegal advised Sarvam AI and its founders on the transaction. TT&A Advocates & Solicitors represented HCLTech, while Cyril Amarchand Mangaldas counseled BVP.
Trilegal’s transaction team was led by partners Rahul Matthan, Nikhil Narendran, Rahil Pereira, Gauri Chhabra, and Thomas J Vallieneth. Counsel Ishika Goon, Anjana Ravi, and Madhav Tampi supported the work, with associates Shourya Pratap Singh Tomar, Dia Shetty, Muhammed Ijaz, Sarashika Eakambaram, Santosh S, and Adithi Holla contributing.
TT&A’s team for the deal included joint managing partner Gautam Saha, partner Punita Gupta, managing associate Aditi Somani, senior associate Sajjan Singh, and associate Megha Rana. The competition‑law component was handled by partner Sonam Mathur, managing associate Shubhang Joshi, senior associate Samriddha Gooptu, and associate Shashank Mehrotra.
Cyril Amarchand Mangaldas’ transaction team was led by partner Krithika Chandrasekaran, with senior associate Jayant Belgaumkar and associates Manav, Tara Ranade, and Abhisek Behera. The firm’s TMT group, headed by partners Arun Prabhu and Arpita Sengupta, assisted on intellectual‑property, AI, and data‑protection matters. Its competition‑law team, led by partners Avaantika Kakkar and Dhruv Rajain, advised on regulatory compliance.
Sarvam AI’s platform is described as a sovereign full‑stack solution that builds, deploys, and runs AI models entirely within India. The company focuses on foundation models such as Indus, multimodal AI systems, and speech‑AI tools tailored to Indian languages. Its enterprise agents are designed for region‑specific use cases.
HCLTech’s investment of 14.27 billion rupees (approximately $150.7 million) secured a 10.5 % stake in Sarvam AI. The funding move was announced on 15 June 2026 and positions HCLTech as a strategic partner in the company’s growth.
BVP’s participation follows its broader interest in AI infrastructure and enterprise platforms. The firm has a history of investing in early‑stage AI and data‑technology companies.
The combined legal effort of Trilegal, TT&A, and Cyril Amarchand Mangaldas ensured compliance with Indian competition law, intellectual‑property rights, and data‑protection regulations. The teams also coordinated the drafting of investment agreements, shareholder rights, and corporate governance documents.
Sarvam AI’s Series B round reflects continued investor confidence in India’s sovereign AI initiatives. The company is part of the IndiaAI Mission, a government program aimed at developing large‑language models that support local languages and cultural contexts.
The funding will support Sarvam AI’s expansion of its AI‑model training infrastructure, development of new language‑specific applications, and scaling of its enterprise‑grade AI services.
In the broader AI ecosystem, the deal underscores the growing partnership between Indian IT services firms and venture capital investors in the AI sector. It also highlights the importance of legal counsel in navigating complex cross‑border investment structures and regulatory frameworks.
The transaction is complete as of 15 June 2026. Sarvam AI plans to use the capital to accelerate product development and market penetration across India and potentially other emerging markets.
The deal demonstrates the maturity of India’s AI startup scene, the willingness of global investors to back sovereign AI platforms, and the critical role of specialized legal teams in facilitating large‑scale technology investments.
