India's AI VC remains under 3% of global flow, but the IndiaAI Mission's ₹10,372 crore (~$1.25B) compute pool now anchors a sovereign tier the private market never built alone. Sarvam AI is closing $350M at a $1.5–1.55B valuation led by Bessemer Venture Partners with NVIDIA, Amazon, and Prosperity7 participating, after being selected in April 2025 by MeitY to build India's first sovereign LLM alongside SoketAI, Gan AI, and Gnani.ai. Krutrim, the Ola Electric spinout that became India's fastest unicorn, sits at $50M equity plus $230M committed financing, with Krutrim Cloud running sovereign infrastructure. The IndiaAI Portal now offers 50,000+ NVIDIA H100 GPUs at ₹65–92/hour — roughly a third of AWS pricing — letting Sarvam train 30B and 105B-parameter Indic models domestically. NeuronFeed tracks 7 Indian AI companies with combined disclosed funding above $2.9B once new rounds settle. Outside the sovereign track the cohort skews voice and video: Jio Haptik runs enterprise agents inside Reliance Jio, Murf AI ships voiceovers in 20+ languages, and InVideo AI ($35M Series A) anchors Mumbai's prompt-to-video layer. By late 2026, Lightspeed India, Peak XV, and Accel India expect a second IndiaAI top-up to compound the GPU advantage into population-scale deployment.