On Thursday, Sarvam AI, a GenAI firm, said that it has secured $41 million in a Series A funding round led by Lightspeed and backed by Peak XV Partners and Khosla Ventures.
For an Indian AI business, this is the largest fundraising round to date. According to Sarvam AI, the company is working on a "full-stack" solution that can be used as an enterprise-grade platform or for training unique AI models. Given that businesses are aware of the promise of this technology but are having difficulty putting it to use, the company believes that a full-stack strategy can hasten the adoption of GenAI in India.
I have direct experience with the tremendous benefits of developing at the fundamental levels and applying to a large population. India has proven that it can use technology in novel ways, and with the help of GenAI, we can rethink how this technology can improve people's lives," stated by Sarvam AI co-founder Vivek Raghavan.
Voice-first interfaces and training AI models supporting Indian languages will be made available by Sarvam AI. In order to create domain-specific AI models based on their data, it would collaborate with Indian businesses. GenAI with "population-scale impact" is what the business hopes to develop.
"Having backed some of the most influential names in GenAI globally, we are excited by Sarvam AI's unique approach in combining model innovation and application development to build population-scale solutions for India," said Hemant Mohapatra, a partner at Lightspeed. Pratyush Kumar, co-founder of Sarvam AI, stated, "Our goal is to establish Sarvam AI as a beacon for AI innovation, attracting the brightest minds to tackle foundational research challenges right here in India."
In addition to creating specifically Indian use cases for generative AI, Sarvam AI aims to provide these use cases at cost-effective rates. It should be mentioned that the startup's funding and vision coincide with the effort by several nations to construct Sovereign AI models to maximize economic growth.
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