Sarvam gets state backing and other top stories

Published 25 June 2026 · india

Next Sarvam gets state backing; Andy Jassy’s India visit Want this newsletter delivered to your inbox? Also in the letter IndiaAI backing could make government

Next Sarvam gets state backing; Andy Jassy’s India visit Want this newsletter delivered to your inbox? Also in the letter IndiaAI backing could make government a minority shareholder in Sarvam Tell me more Why it matters The big picture Also Read Sarvam raises $234 million led by HCLTech at $1.5 billion valuation Follow the money Sarvam received the largest compute subsidy under the programme, securing access to 4,096 Nvidia H100 GPUs.. The resulting CCDs are now expected to convert into equity as part of the startup's ongoing $300-million round at a $1.5-billion valuation. Zoom out Also Read ETtech interview: AI is a capital game; our fundraise is large for India but quite small in the global context: Sarvam cofounders Vishal Sikka’s AI startup Hang Ten Systems raises $32 million More on the round Amazon CEO Andy Jassy visits India; to meet PM Modi today Rapid delivery push Also Read Beyond the top 3, Amazon and Flipkart wage war to win the quick commerce crown Customer traction Background The move comes as Flipkart Minutes scales up aggressively as well, claiming 1,000 fulfilment centres across 130 cities in under two years.

across 130 cities in under two years. Amazon had earlier announced a Rs 2,800-crore investment in India to strengthen infrastructure and operations, as part of its broader $35-billion commitment by 2030. Also Read Amazon Now orders growing 25% month on month: CEO Andy Jassy in Q1 earnings call Swiggy Instamart COO Ankit Jain, CBO Hari Kumar quit amid top-level rejig Tell me more Pocket FM winds down microdrama to focus on audio dramas, overseas market Why Pocket FM is stepping back Pocket FM is refocusing on audio dramas and overseas markets ahead of a potential public listing, people aware of the matter told us., people aware of the matter told us. Video demands a different operating — fresh production, casting, localisation and a steady slate of shows. The company has also been in the market to raise fresh capital, while exploring a reverse flip, as ET reported last week.

Also Read Pocket FM hits $450 million ARR in April after accelerating AI-led content creation Why rivals are still betting big Kuku Technologies has filed confidentially for a Rs 3,500-crore IPO at a targeted valuation of around Rs 15,000 crore. at a targeted valuation of around Rs 15,000 crore. Mohalla Tech is also preparing for an IPO, with Quick TV and Moj anchoring its video bet., with Quick TV and Moj anchoring its video bet. The winner, investors say, may not be the platform with the most content, but the one with cheaper distribution, higher repeat usage and stronger monetisation. Also Read Pocket FM cuts 100 jobs, moves 2,000 contract employees on Quess Corp’s payroll India eyes chip investments at Pax Silica Summit What is this event? India's aim Important attendees From India — senior officials from the Ministry of Electronics and Information Technology and the Ministry of External Affairs.