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Boost for Indian AI Startups🚀, Krafton's Startup Haven🕹️
Dunzo's Valuation Saga, Chandrayaan-3's Moon Dance, Artha Venture's Fleet Triumph, Funding Deals and more.
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🚀 Boost for Indian AI Startups: 25,000 GPU Cluster on the Horizon 🤖
The government is gearing up to establish a colossal cluster of 25,000 graphic processing units (GPUs), fueling the nation's artificial intelligence endeavors. This move aims to provide essential infrastructure, propelling startups to greater technological heights. The proposal, with an estimated cost of Rs 8,000-10,000 crore, promises a vibrant future for India's AI innovators! 🌟
🔍 Dunzo's Valuation Nosedive: Seeking $200 Million Amidst Challenges 💰
Dunzo, the swift commerce powerhouse, is navigating turbulent waters as investors ponder a sharp valuation cut to $200 million, down from its peak at $800 million. In a bid to secure a crucial $35 million, Dunzo's board is at a crossroads. Will this strategic move steer the ship back on course? 🚢
🎮 Krafton Launches Incubator Program for Indian Startups🕹️
Krafton, the gaming titan, is kickstarting its inaugural gaming-focused incubator program tailored for Indian startups. With room for six to ten gaming "teams" annually, this initiative will provide funding support ranging from $50,000 to $250,000 for exceptional candidates. It's game on for early-stage startups, students, and independent developers in India's thriving gaming landscape! 🚀
🌕 Chandrayaan-3's Unexpected Moon Dance: ISRO's Surprise 'Hop Experiment'🛰️
Chandrayaan-3's saga continues! While accomplishing all planned lunar tasks, the Vikram lander amazed the Indian Space Research Organisation (ISRO) by successfully executing a spontaneous 'hop experiment'. The spacecraft's unplanned lunar dance left scientists astounded as it gracefully hopped back to the Moon's surface on command. ✨
🚖 Artha Venture Scores Big with Everest Fleet 🎉
In a spectacular financial feat, Artha Venture Fund (AVF) has orchestrated a triumphant partial exit from Everest Fleet, the dynamic fleet management company backed by Uber. Artha Venture is celebrating a remarkable 19x return on its investment, marking a staggering achievement. This strategic move has yielded an initial rate of return of a whopping 105%, showcasing AVF's prowess in the startup investment arena! 💰
B2B vendor digitisation platform Bizongo has raised about $50 million from its existing investors in a Series E funding round led by Schroder Adveq, a Zurich-based private equity firm.
Consumer fitness brands Cube Club has raised $1.1 million in its seed funding round from Harsh Jain of Dream11, Salgaocar Family Office, Siddharth Ladsariya of Everest Fleet, and Rajeev Sahney of New Vernon Capital. Cube Club has also launched its fitness app Dopamine which offers challenges, influencer content, and rewards for their fitness achievements.
Lending analytics and infrastructure as a service firm Roopya has raised Rs 5.09 crore in its pre-seed round led by 100X.VC. The round also saw participation from KRS Jamwal, SAT Industries, Vishal Khare of Snyk, Shavdia Ventures and several other marquee investors.
Hydrogen startup Electric Hydrogen (EH2) has raised $380 million in an oversubscribed Series C financing round. The funding was led by Fortescue, Fifth Wall and Energy Impact Partners and included new investors BP Ventures, Oman Investment Authority, Temasek, Microsoft's Climate Innovation Fund, the United Airlines Sustainable Flight Fund among others.
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