BIS Raids E-commerce Giants, Ola Faces Insolvency Plea, and IRCAI’s Climate Fellowship

The BIS is tightening the screws on ecommerce giants like Amazon and Flipkart over non-certified products, while Ola Electric faces an insolvency plea from Rosmerta Digital. On a brighter note, Karnataka is backing 101 startups with its massive ELEVATE 2024 fund, Innoterra is scooping up Fasal’s fresh food biz to power up agri-supply chains, and IRCAI with AWS is calling startups to join a fully funded global Climate Fellowship.

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

“O Eco-Friendly, Nature Ke Rakshak”: IRCAI and AWS unveils Climate Fellowship Programme

IRCAI and Amazon Web Services (AWS) have launched the 2025 Compute for Climate Fellowship, opening doors for startups working on AI-driven climate solutions.

The global program will fully fund R&D projects that harness advanced cloud computing to tackle climate change. With applications now open, it’s a major push to put cutting-edge tech at the forefront of environmental action.

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“Maamla Legal Hai”: Rosmerta Digital Services Files Insolvency Plea Against Ola Electric Subsidiary

Rosmerta Digital Services has filed an insolvency plea against Ola Electric Technologies, claiming unpaid dues for services rendered. The case has landed before the Bengaluru bench of the NCLT, putting a spotlight on Ola Electric's financial dealings just as it gears up for an IPO.

Meanwhile, Ola Electric has pushed back, disputing the claims and seeking legal advice—so this legal battle might just be getting started.

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“Ee Saala Cup Naamde”: Karnataka To Fund 101 Startups Under ELEVATE 2024

Karnataka is set to fund 101 startups under its ELEVATE 2024 program, backed by a hefty INR 300 Cr fund of funds and an additional INR 100 Cr for deeptech ventures.

Part of the broader LEAP initiative, which has a massive INR 1,000 Cr grant, the move aims to boost local entrepreneurship and generate jobs in Tier II and III cities. Looks like Karnataka is doubling down on its ambition to become India's next big startup powerhouse beyond Bengaluru.

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“Hum Saath Saath Hai”: Innoterra Acquires Agritech Fasal’s Fresh Food Distribution Biz

In a fresh twist to India's agritech scene, Innoterra has acquired Fasal’s fresh food distribution business to strengthen its B2B platform, Farmlink.

While financial details remain under wraps, the deal is expected to supercharge Innoterra’s supply chain and help it branch into non-perishable goods. Interestingly, Fasal, known for its AI and IoT-powered farm solutions, will now double down on its core tech-driven agri services.

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“Waqt Rehte Sudharna Padega”: BIS Raids Amazon, Flipkart Warehouses For Selling Non-Certified Products

The Bureau of Indian Standards (BIS) has raided Amazon and Flipkart warehouses in Lucknow, Gurugram, and Delhi for allegedly selling non-certified and potentially unsafe products. The crackdown didn’t stop there—other major ecommerce players like Meesho, Myntra, and BigBasket were also found to be listing several uncertified items.

Coming just months after BIS floated draft guidelines to hold online marketplaces accountable, this development raises serious questions about consumer safety and the unchecked sale of substandard goods online.

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1. Vayana has secured an NBFC license from RBI and is eyeing a $20 Mn fundraise, reportedly in talks with SMBC Asia Rising Fund and new investors. The license will allow Vayana to enter co-lending deals with major lenders and hold loan exposure on its own books.

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2. Satin Creditcare has raised a $100 Mn syndicated social loan, marking its first external commercial borrowing under RBI’s automatic route. Arranged by Standard Chartered Bank, the round also saw participation from six Sri Lankan banks, boosting the microfinance firm’s capacity to support underserved communities.

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3. Rangsons Aerospace has raised ₹300 Cr in a round led by ValueQuest Investment Advisors to scale up its commercial and military aviation offerings. The funding will also support strategic acquisitions as the company eyes new business segments.

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