Cognizant in talks to invest in Sarvam at $3.5-4 Bn valuation

Cognizant is reportedly in talks to invest in Indian AI startup Sarvam as part of a $300 Mn round valuing it at $3.5-4 Bn. That is more than double the $1.5 Bn valuation from June's first close of a $234 Mn Series B led by HCLTech with $150 Mn.

• Sarvam seeks about $300 Mn in fresh capital
• Valuation jumps from $1.5 Bn in June to $3.5-4 Bn
• HCLTech previously invested $150 Mn in the Series B
• Cognizant would be the second IT major on Sarvam's cap table