Bhavish's Stand, KuCoin Comeback, AgriTech AI and More in Today's StartupChai

Ola's Bhavish Aggarwal takes on LinkedIn, announcing a shift from Microsoft Azure to Krutrim AI Cloud; FIU-IND director urges crypto platforms to tighten anti-money laundering measures; Binance and Kucoin receive FIU green light post-ban; UP Government drives AI integration to empower agritech startups; and a majority of manufacturers gear up under the revised PLI scheme.

Grab your simmering cup of StartupChai and unwind with our hand-brewed memes.

What Matters

“Hum Kissi Se Kam Nahi”: Bhavish Aggarwal Vs LinkedIn As Ola To Stop Using Microsoft Azure, Migrate To Krutrim AI Cloud

In a surprising move, Bhavish Aggarwal has decided to steer Ola away from Microsoft Azure's cloud services amidst a brewing conflict with LinkedIn, owned by Microsoft. Aggarwal announced the shift to Krutrim AI's cloud, marking a significant departure from the tech giant's ecosystem.

This decision follows closely on the heels of Krutrim AI's recent unveiling of its cloud platform to a broader audience.

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“Waqt Rehte Sudhar Jaao”: Comply With Anti-Money Laundering Norms says FIU-IND Director To Crypto Platforms

Vivek Aggarwal, the director of FIU-IND, has issued a stern reminder to crypto platforms: comply with anti-money laundering norms or face consequences. Speaking at an event, Aggarwal emphasized the urgency of thwarting the misuse of cryptocurrencies for illicit activities like money laundering and terrorist financing.

He clarified that the regulations for crypto exchanges are tethered to their activities, not their physical presence in India.

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“Aaj Ki Nari, Sab Par Bhaari”: Govt Inks MoU With Mahindra Group To Skill 500 Women In Drone Operation

In a significant stride towards empowering women in emerging tech fields, the government has partnered with the Mahindra Group to skill 500 women in drone operation. Pilot projects are slated for Hyderabad and Noida NSTI campuses.

As part of the Drone Didi Scheme, initiated by PM Modi earlier this year, this endeavor seeks to train 15,000 women to leverage drones for agricultural advancements.

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“Aapne Ghabrana Nahi Hai”: Months After Ban, Kucoin Gets FIU Nod To Operate In India

Months after being banned, Binance and Kucoin have received the nod from the FIU to resume operations in India. The FIU director disclosed that Kucoin has settled its past non-compliance with a fine of INR 35.5 Lakhs, leading to the lifting of its ban.

Meanwhile, government authorities are still evaluating the extent of liabilities for Binance.

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“Agri-tech Sector Mein AI Ka Swaad”: UP Govt Aims To Integrate AI In Farming, Bolster Agritech Startups

The UP government is gearing up to revolutionize farming with AI integration while boosting agritech startups through the 'Krishi Bharat' summit in November.

With industry stakeholders eager to address policy hurdles and enhance technology in agriculture, JK Cements' CEO highlights the potential for growth in India's agritech sector, projected to reach $24 billion by 2025.

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“Din Dugni Raat Chaugni”: Majority Of Manufacturers Qualified Under Revised PLI Scheme To Start Production This Year

The majority of companies under the revised PLI scheme are gearing up to kick off production this year, with about 17 out of 27 already in the pipeline. While the government awaits audit completion for incentive distribution, it's great to see progress brewing.

Plus, with the government's focus on prioritizing domestic companies in the India AI Mission, the tech landscape is set for some growth.

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1. Bengaluru's Comet, the D2C sneaker brand, is finalizing Series A funding talks with Elevation Capital and Nexus Venture Partners, poised to propel its growth in the market.

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2. Meesho achieves the first close of its larger funding round at an impressive $275 million, a significant step towards its target of $600 million.

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3. Relux Electric secures Rs 250 crore funding from private real estate and infrastructure investors, without diluting equity, to amplify its EV charging network expansion across South India.

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