Indian artificial intelligence startup Sarvam has achieved unicorn status after securing $234 million in a funding round led by IT services company HCLTech, marking another milestone for India's growing AI sector.

The Bengaluru-based company received a $150 million investment from HCLTech as part of the funding round, which values the startup at over $1 billion. This makes Sarvam the latest Indian technology company to join the unicorn club of privately-held startups valued at $1 billion or more.

The funding round highlights the increasing investor interest in artificial intelligence companies across India's technology landscape. HCLTech's significant investment represents a strategic move by the established IT services provider to strengthen its position in the rapidly evolving AI market.

Sarvam's achievement comes amid broader developments in the global AI sector, where companies are facing various regulatory and operational challenges. The startup's unicorn status reflects the growing confidence in India's AI capabilities and its potential to compete in the international market.

The funding will likely enable Sarvam to expand its AI research and development capabilities while scaling its operations to serve both domestic and international markets.