 "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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KITES Senior Care raises Rs 45 crore from Ranjan Pai's family office fund
Pai recently invested $168 million (Rs 1,400 crore) in edtech firm Byju's test-prep subsidiary AESL and was in discussion to invest about $350 million in Byju's in both equity and debt
 "KITES Senior Care raises Rs 45 crore from Ranjan Pai's family office fund")
Karnataka HC extends interim protection to Byju Raveendran till March 28
At the February 23 EGM, Byju's investors including Prosus, General Atlantic, and Peak XV voted to remove Byju Raveendran as CEO. However, a Karnataka HC order prevented its implementation
 "Karnataka HC extends interim protection to Byju Raveendran till March 28")
SoftBank-backed Meesho to roll out ESOP buyback program worth Rs 200 cr
The SoftBank-backed e-commerce firm Meesho is enabling opportunities for wealth creation for 1,700 past as well as present employees
 "SoftBank-backed Meesho to roll out ESOP buyback program worth Rs 200 cr")
Flipkart's dark-store dash for quick commerce takes the fast lane
Walmart-owned firm may set up thousands of them across major cities in next few months
 "Flipkart's dark-store dash for quick commerce takes the fast lane")
Confusion around Karnataka govt's withdrawal of e-bike taxi scheme: Rapido
Rapido pointed out that recent order issued by the state government does not mention banning Rapido or any other aggregator operating under the protection of the high court order
 "Confusion around Karnataka govt's withdrawal of e-bike taxi scheme: Rapido")
Byju's shuts all regional offices, asks 15,000 employees to work from home
The move has been in place for the past few months as part of a restructuring exercise as the struggling edtech giant faces a severe funding crunch and battles lenders, according to the sources
 "Byju's shuts all regional offices, asks 15,000 employees to work from home")
Planning to set up public sector unit to provide tech: Salesforce India CEO
The US-based company is looking to tap various opportunities in the government sector in areas such as postal services, education, subsidies to the citizens and healthcare services, said Bhattacharya
 "Planning to set up public sector unit to provide tech: Salesforce India CEO")
Byju's processes part of pending salaries, aims to pay balance soon
Edtech company will pay the balance once the issue's funds are available
 "Byju's processes part of pending salaries, aims to pay balance soon")
US-based Baron Capital boosts Swiggy's valuation to $12.1 billion
New valuation is above the $11 billion IPO valuation target that Swiggy is eyeing
 "US-based Baron Capital boosts Swiggy's valuation to $12.1 billion")
The Ayurveda Experience secures $27 mn in funding led by Jungle Ventures
The funds would help firm ramp up customer engagement on its platform, invest in product R&D
 "The Ayurveda Experience secures $27 mn in funding led by Jungle Ventures")
Large representation of Indian data differentiates us: Krutrim's Ravi Jain
Krutrim's head of strategy Ravi Jain said what differentiates the AI platform from others is that it uses Indian data including different languages to train its models
 "Large representation of Indian data differentiates us: Krutrim's Ravi Jain")
Flipkart planning to unveil quick commerce service in a couple of months
According to industry sources, 15-20 minute deliveries provided by players such as Zepto, Instamart and Blinkit are taking a major portion of the sales of products away from Flipkart and Amazon
 "Flipkart planning to unveil quick commerce service in a couple of months")
IndiGo's Gangwal invests $20 mn in manufacturing services startup Zetwerk
Gangwal started his airline career with United Airlines in 1984. He co-founded IndiGo along with his friend Rahul Bhatia in 2006 with one aircraft
 "IndiGo's Gangwal invests $20 mn in manufacturing services startup Zetwerk")
On road to IPO, Udaan saw sales of over 2.25 billion products in 2023
1,500 sellers reach Rs 1 cr in transactions on eB2B platform
 "On road to IPO, Udaan saw sales of over 2.25 billion products in 2023")
Byju's investors file caveats in SC expecting challenge to NCLT's order
MIH Edtech Investments BV, Peak XV Partners Investments, Sofina SA and General Atlantic Singapore TL Pte Ltd filed separate caveats in SC as a precautionary move
 "Byju's investors file caveats in SC expecting challenge to NCLT's order")
Nasscom urges Karnataka govt to review the uniform taxi fare rules
Government of Karnataka, revised the fare structure applicable to taxis (both mobile application (app)-based and non-app-based city taxis)
 "Nasscom urges Karnataka govt to review the uniform taxi fare rules")
Govt's AI advisory only for large platforms, not for startups: MeitY
Union minister Rajeev Chandrasekhar said that the advisory was aimed at preventing untested AI platforms from deploying on the Indian internet
 "Govt's AI advisory only for large platforms, not for startups: MeitY")
Disclosure in US court counters narrative by four investors, says Byju's
Byju's said this counters the fake narrative by four investors at the National Company Law Tribunal (NCLT) that the amount was siphoned off
Bengaluru blast: Startups call for swift measures to ensure robust safety
Approximately 10 people were reportedly injured in a low-intensity bomb blast at The Rameshwaram Cafe, a popular restaurant in Bengaluru's Brookfield
 "Bengaluru blast: Startups call for swift measures to ensure robust safety")
Flipkart unveils its UPI handle to boost India's digital evolution
The service would be available to all users including Flipkart's over 500 million customers
 "Flipkart unveils its UPI handle to boost India's digital evolution")