 "Peerzada Abrar")
Peerzada Abrar
Peerzada Abrar
Peerzada Abrar is a technology and business reporter at Business Standard. He covers the intersection of technology, AI, business and society, and their impact on our lives. This includes tracking top tech firms and startups. He joined Business Standard in 2019 after having worked at The Economic Times and The Hindu, where he covered the entrepreneurship ecosystem, start-ups, new technologies, venture capital, and private equity. A storyteller at heart, he is captivated by the potential of innovation to address global challenges. His narrative spans from resilient communities combating epidemics and natural disasters to groundbreaking initiatives that empower the underserved and transform humanitarian landscapes.
Peerzada Abrar is a technology and business reporter at Business Standard. He covers the intersection of technology, AI, business and society, and their impact on our lives. This includes tracking top tech firms and startups. He joined Business Standard in 2019 after having worked at The Economic Times and The Hindu, where he covered the entrepreneurship ecosystem, start-ups, new technologies, venture capital, and private equity. A storyteller at heart, he is captivated by the potential of innovation to address global challenges. His narrative spans from resilient communities combating epidemics and natural disasters to groundbreaking initiatives that empower the underserved and transform humanitarian landscapes.
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Fintech firm Pine Labs closes $600 mn fundraise, eyes IPO in 18 months
With the current close, the valuation of the firm stands at $3 billion.
 "Fintech firm Pine Labs closes $600 mn fundraise, eyes IPO in 18 months")
150 year-old Allana Group invests $10 mn in Iron Pillar Fund II
The corpus would enable Iron Pillar portfolio companies to expand globally
 "150 year-old Allana Group invests $10 mn in Iron Pillar Fund II")
Razorpay, Mastercard launch MandateHQ for recurring payments
To help banks comply with RBI directive and provide convenience to banks' customers, Razorpay and Mastercard have partnered to launch MandateHQ, new recurring payment interface, after RBI's new rules
 "Razorpay, Mastercard launch MandateHQ for recurring payments")
Bike taxi startup Rapido plans to ramp up hiring of women captains
India's largest bike taxi platform has also filed for the bike taxi service application with the State Transport Authority in Karnataka
 "Bike taxi startup Rapido plans to ramp up hiring of women captains")
New rules will choke e-commerce growth, Indo-American Chamber tells Govt
Says proposed amendments will increase compliance liabilities, can affect investor sentiment globally especially with respect to 'Ease of Doing Business'
 "New rules will choke e-commerce growth, Indo-American Chamber tells Govt")
India's Skylark Drones raises $3 mn to fuel international expansion
Skylark Drones aims to elevate worksite productivity and safety by providing geospatial intelligence to different enterprises in sectors such as mining, solar power, etc
 "India's Skylark Drones raises $3 mn to fuel international expansion")
Walmart's Myntra sees 1.2 million customers shop on Day-1 of sale event
Four million products sold the highest-ever opening day traffic sessions growth for Myntra, at 200% over business-as-usual
 "Walmart's Myntra sees 1.2 million customers shop on Day-1 of sale event")
Amazon starts IP accelerator to help Indian businesses protect their brands
Offering small and medium-sized sellers easy access to services from trusted intellectual property experts and law firms
 "Amazon starts IP accelerator to help Indian businesses protect their brands")
E-commerce cos say new rules will hurt biz, urge govt to extend deadline
Govt is studying industry comments, will take a call on making relevant changes before the rules are finalised
WinZO raises $65 mn in Series C round, led by Griffin Gaming Partners
Griffin is making its first-ever investment in India in WinZO
 "WinZO raises $65 mn in Series C round, led by Griffin Gaming Partners")
Swedish gaming giant MTG buys Indian games developer PlaySimple for $360 mn
Acquires 100% in cash-and-equity deal that will significantly strengthen the company's position in casual games' genre and enable access to fast-growing word games genre
 "Swedish gaming giant MTG buys Indian games developer PlaySimple for $360 mn")
Urban Company names Uber executive Neha Mathur SVP of Human Resources
Appointment underscores company's commitment to attracting world-class talent; comes at a time when Urban Company recently raised $255 million in a Series F round
 "Urban Company names Uber executive Neha Mathur SVP of Human Resources")
Flipkart opens all-women run fulfilment centre in Coimbatore
Spread across 120,000 sq ft, the centre will employ over 1,200 people at full capacity
 "Flipkart opens all-women run fulfilment centre in Coimbatore")
15 mn 'Covid Safety Essentials' sold across India on udaan during 2nd wave
From March onwards till the gradual decline of the second wave, a total of 6 million covid safety essentials were shipped to the states of Assam, West Bengal, Andhra Pradesh, and Bihar
 "15 mn 'Covid Safety Essentials' sold across India on udaan during 2nd wave")
New Amazon service delivers prime customers' weekly orders at one go
Members across India can also choose date of delivery, in a move that will entail fewer boxes and fewer trips to the customer location
 "New Amazon service delivers prime customers' weekly orders at one go")
Axis Bank strikes cloud computing deal with AWS for digital transformation
India's third-largest private sector bank to migrate 70% of its on-premises data centre infra in next 24 months to further reduce cost, improve agility, improve customer experience
 "Axis Bank strikes cloud computing deal with AWS for digital transformation")
10club raises $40 mn in one of largest seed rounds in e-comm roll-up space
The funding round was co-led by Fireside Ventures and an international investor active in the space
 "10club raises $40 mn in one of largest seed rounds in e-comm roll-up space")
WhatsApp appoints Amazon executive to lead payments business in India
Manesh Mahatme brings with him 17 years of experience in digital financial services and payments across Citibank, Airtel Money and Amazon
 "WhatsApp appoints Amazon executive to lead payments business in India")
SoftBank-backed Snapdeal's home category sales grow by 70% amid pandemic
The growth has been led by kitchenware and home improvement category products, which saw a 50 and 100 per cent jump in demand respectively since March 2020
 "SoftBank-backed Snapdeal's home category sales grow by 70% amid pandemic")
Game streaming platform Loco raises $9 mn from Lumikai, Korea's Krafton
The round also saw participation by Hashed, Hiro Capital, North Base Media, Axilor Ventures, and 3one4 Capital
 "Game streaming platform Loco raises $9 mn from Lumikai, Korea's Krafton")