Trilegal, TT&A, Cyril Amarchand, Shardul Amarchand act on Sarvam AI $300 million Series B fundraise

Axonwise Private Limited, dba Sarvam AI, has raised $300 million from a Series B fundraise led by HCL Technologies and Bessemer Venture Partners, with participation from existing investors.

Trilegal advised Sarvam AI and its founders on this fundraise.

The transaction was led by Rahul Matthan (Partner, TMT), Nikhil Narendran (Partner, TMT), Rahil Pereira (Partner, Corporate), Gauri Chhabra (Partner, Competition) and Thomas J Vallieneth (Partner, TMT); with support from Ishika Goon (Counsel), Anjana Ravi (Counsel), Madhav Tampi (Counsel), Associates: Shourya Pratap Singh Tomar, Dia Shetty, Muhammed Ijaz, Sarashika Eakambaram, Santosh S and Adithi Holla.

TT&A advised HCLTech on acquiring 10.46% stake in Sarvam AI through investment in these fundraise.

The transaction team consisted of Gautam Saha (Partner), Punita Gupta (Partner), Aditi Somani (Managing Associate), Sajjan Singh (Senior Associate) and Megha Rana (Associate).

Sonam Mathur (Partner), Shubhang Joshi (Managing Associate), Samriddha Gooptu (Senior Associate) and Shashank Mehrotra (Associate) advised on Competition Law aspects.

Cyril Amarchand Mangaldas advised Bessemer Venture Partners on this fundraise.

The deal team was led by Krithika Chandrasekaran (Partner); with assistance from Jayant Belgaumkar (Senior Associate); and Associates Manav, Tara Ranade, Abhisek Behera.

The TMT Team was led by Arun Prabhu (Partner – Co-Head – Digital | TMT) and Arpita Sengupta (Partner); with assistance from Nidhi Jhawar (Senior Associate) and Shivaram Gopal (Associate); who assisted the transaction team in the intellectual property, AI, and data protection aspects of the transaction.

The Competition Team was led by Avaantika Kakkar (Partner – Head - Competition) and Dhruv Rajain (Partner); with assistance from Rajat Sharma (Principal Associate) and Vanya Agarwal (Senior Associate); who advised the client on competition law compliance aspects.

Shardul Amarchand Mangaldas & Co advised existing investors Khosla Ventures, Peak XV Partners and Lightspeed Venture Partners on their participation in this fundraise.

The transaction team consisted of Manish Gupta (Partner), Ashish Ahluwalia (Partner) and Vivek Tiwari (Senior Associate).

Sarvam AI is developing a full-stack, sovereign AI platform custom-tailored for Indian languages, data, and governance.

The funds will support Sarvam's ongoing research to develop its next-generation model focused on agentic capabilities, coding, and cybersecurity applications. It will also provide access to large-scale computing resources to accelerate its deployment across key industry verticals.

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