This Week in Startups 🌟 | Stay ahead with Entrepreneurship Studio as we bring you the latest and most exciting updates from the startup world.

From groundbreaking funding rounds to innovative breakthroughs, we've got your weekly dose of entrepreneurial spirit right here:

Indian Startup Agnikul Launches First 3D-Printed Rocket Engine:
The Indian space startup Agnikul Cosmos has made history by launching the "Agnibaan - SOrTeD" rocket, the first in the world to be powered by a fully 3D-printed semi-cryogenic engine. This landmark event took place from the Satish Dhawan Space Centre in Sriharikota, marking a significant milestone in the country's private space industry. The rocket, part of a mission to gather critical data for future orbital launches, was powered by the Agnilet engine—celebrated as the first single-piece 3D-printed semi-cryogenic engine globally.
This achievement showcases the potential and innovation within India's burgeoning private sector in space technology. The launch received praise from significant figures and organizations, including the Indian Space Research Organisation (ISRO), and aligns with the government's initiative to promote private participation in the space sector.

NeevCloud Launches with 40,000 GPUs, Revolutionizing AI Cloud Services for SMEs in India:
Narendra Sen, CEO of NeevCloud, plans to establish an AI cloud infrastructure with 40,000 GPUs by 2026 to support AI operations for Indian enterprises. This initiative aims to surpass Yotta's target of setting up 32,768 GPUs by 2025. NeevCloud will soon launch an AI inferencing platform with popular open-source models to cater to the growing demand in India.
The initial setup will utilize around 100 NVIDIA GPUs, and plans include introducing cost-effective AMD M1300X GPUs. The focus is on ensuring a smooth user experience with reliable performance and quick access. NeevCloud's strategy involves partnering with major Indian data center operators under a revenue-sharing model, leveraging their infrastructure to deploy GPUs and attract customers.

Jio Backed TWO.AI's ChatSUTRA Launch: India's Multilingual ChatGPT Rival:
Two AI, a startup backed by Jio, has launched Chatsutra, which is being touted as India's response to ChatGPT. Chatsutra is a conversational AI designed to cater specifically to the needs of Indian users, incorporating nuances and contextual understanding relevant to the region.
This development signifies a significant step in the localization and adaptation of AI technology to meet regional demands, reflecting a broader trend of innovation within India's tech industry.
As AI technology continues to evolve, local solutions like Chatsutra are crucial for providing tailored user experiences that resonate with specific cultural and linguistic contexts.

Garuda Aerospace Opens First Drone Showroom in Chennai, India:
Garuda Aerospace has opened India's first exclusive drone showroom in Chennai, showcasing a diverse array of drones suitable for FPV, surveillance, videography, agriculture, inspections, and hobby flying.
The showroom features advanced interactive drone simulators equipped with VR technology to enhance the customer experience. Inaugurated by Dr. R Velraj, Vice Chancellor of Anna University, and Agnishwar Jayaprakash, CEO of Garuda Aerospace, the showroom is part of a broader plan to open 300 similar facilities across India to boost drone adoption. This initiative coincides with the company's preparation for an IPO within the next 6-8 months, as announced by Jayaprakash at TechSparks 2023.
The showroom is designed to increase consumer awareness and drive direct sales, offering a hands-on platform for both consumers and businesses to explore and understand the potential of drone technology.

Astrotalk Secures $14 Million in Funding Led by Elev8 Venture Partners:
Astrotalk, a spiritual technology startup, received a $14 million investment led by Elev8 Venture Partners, with Elev8 contributing $7 million. This funding, which includes both primary and secondary investments, follows a $20 million round from February led by Left Lane.
Astrotalk plans to use this capital to expand its offerings in various regional languages and formats, grow its global presence, and increase its team size. The company offers services like Vedic astrology, vastu, tarot card readings, and online pujas. It also plans to enhance its product line by offering certified Vedic wearables such as gemstones and crystals.
Puneet Gupta, Founder of Astrotalk, emphasized the support from Elev8 as pivotal for their domestic and soon-to-be global leadership in the online astrology market, which, according to Redseer Strategy Consultants, is projected to grow significantly by FY30.

Fibe, a lending startup, secures $90 million in combined primary and secondary financing:
Pune-based consumer lending startup Fibe, formerly known as EarlySalary, has closed a $90 million funding round. This round included $66 million in primary investments and $24 million in secondary shares, with significant contributions from Hong Kong-based TR Capital, Trifecta Capital, and Amara Partners.
Fibe's existing investors like TPG Rise Fund and Norwest Venture Partners also reinvested. The startup aims to use this capital to expand its product range and increase its market presence. Despite challenging market conditions, Fibe has maintained a strong financial performance, with a notable increase in revenue and profits in FY24. Fibe has expanded its offerings from short-term personal loans to include longer-duration products and is planning to raise additional debt to fuel further growth.

Maino, a Digital Marketing Automation Startup, Secures Investment from India Quotient and Others:
Digital marketing automation startup Maino AI has secured $1.8 million in funding, led by India Quotient Advisers LLP, with participation from other investors. This investment round aims to bolster Maino AI’s capabilities in enhancing its platform, which utilizes artificial intelligence to optimize marketing campaigns, improve customer engagement, and drive sales growth.
Founded to streamline the complexities of digital marketing, Maino AI provides businesses with the tools to analyze customer data, personalize marketing efforts, and automate repetitive tasks. This funding will enable the startup to accelerate its product development and expand its market reach, positioning itself as a significant player in the digital marketing automation space.

SEDEMAC Secures $100M for Expansion and Innovation in Deeptech:
SEDEMAC Mechatronics, a deeptech startup founded in 2007, raised $100 million, including a $9 million primary transaction and $91 million in secondary transactions. The funds will build a new manufacturing plant and expand in India, the US, and the EU. Investors include Xponentia Capital Partners, A91 Partners, and 360 ONE Asset, allowing early investors like Nexus Venture Partners to exit.
SEDEMAC, based in Pune, develops motor controllers and battery management systems for two- and three-wheeler ICE and EVs, generators, and e-bikes. Co-founded by IIT-Bombay professor Shashikanth Suryanarayan, the company supplies millions of motor controllers annually. Their products include sensorless integrated starter generators, electronic control units, smart ignition systems, and voltage regulators.