HCLTech agreed to purchase a 10.5% equity stake in Bengaluru-based Sarvam AI as lead strategic investor in the company's Series B round. The round's first close raised $234 million toward a $300 million target, with co-lead Bessemer Venture Partners and participation from Khosla Ventures and Peak XV Partners. Sarvam AI reached a $1.5 billion valuation in the transaction announced June 15.