Dhruva Space Bags Series-A Funding; ADIF, IIT-G Forge Partnership

ADIF and IIT Guwahati Forge Partnership to Boost Startup Culture 

In a bid to bolster the startup ecosystem, the Alliance of Digital India Foundation (ADIF) and IIT Guwahati Technology Incubation Centre (IIT Guwahati TIC) have joined forces through a two-year Memorandum of Understanding (MoU). The collaboration aims to bridge the gap between ADIF's network of startups and IIT Guwahati's pool of innovators, faculty, and incubation facilities. Prateek Jain, Associate Director at ADIF, expressed enthusiasm, highlighting the shared vision of fostering India's entrepreneurial spirit.

Under the agreement, ADIF will extend alliance membership to IITG TIC's startup portfolio, offering them access to discounted services and mentorship. In return, IITG TIC will provide mentoring, market linkages, and support through various programs. Together, they plan to organize workshops, hackathons, and research initiatives to nurture entrepreneurship. The partnership aims to create a conducive environment for innovation, particularly in North East India.

Dhruva Space Bags Series-A Funding

Hyderabad-based space tech startup Dhruva Space has wrapped up a successful Series-A funding round, securing a substantial Rs 123 crore (approximately $15 million). This funding will propel the development of its spacecraft manufacturing facilities and strategic business acquisitions. Notable investors include Indian Angel Network Alpha Fund, Blue Ashva Capital, Silverneedle Ventures, BIG Global Investment JSC (BITEXCO Group), IvyCap Ventures, Mumbai Angels, and Blume Founders Fund.

Dhruva has also secured Rs 14 crore in venture debt from the Technology Development Board (TDB), earmarked for commercializing its space-grade solar array fabrication and test facility. This venture positions Dhruva as a pioneer in spacecraft solar array manufacturing, making it the first Indian company to secure an order for end-to-end design and development of spacecraft solar arrays. This underscores Dhruva's commitment to technological advancement and innovation in the space tech sector.

Ex-Nvidia, Apple, Intel Engineers Disrupt AI Landscape with FlexAI

A team of former engineers from Nvidia, Apple, and Intel has launched FlexAI, an AI startup backed by $30 million. Led by CEO Brijesh Tripathi and co-founder Dali Kilani, FlexAI aims to revolutionize AI compute infrastructure for developers. Tripathi envisions FlexAI as the pioneer of the first universal AI compute infrastructure, accessible across any cloud, architecture, or hardware.

Supported by major investors like Alpha Intelligence Capital and Elaia Partners, FlexAI collaborates with industry giants like AWS, AMD, and Google Cloud to democratize AI development. Their upcoming product promises an on-demand cloud service, providing developers with virtual compute resources for efficient AI model building. With Tripathi and Kilani's experience, FlexAI is poised to simplify development and democratize access to AI resources.

Nvidia to Expand AI Reach with Run:ai Purchase

Nvidia made a strategic move in the AI market by acquiring Israeli software startup Run:ai, expanding its offerings in artificial intelligence. Run:ai specializes in workload management and orchestration software, leveraging the Kubernetes open-source platform. This acquisition enhances Nvidia's ability to optimize compute infrastructure for enterprise customers, whether on-premises, in the cloud, or hybrid environments.

Notably, Run:ai serves major enterprises globally, aiding them in managing data-center-scale GPU clusters. Nvidia expects this acquisition to enable more efficient utilization of AI computing resources for its customers. Although Nvidia's shares experienced a slight decline in intraday trading, the company continues its upward trajectory, reflecting investors' confidence in its strategic moves and market position.