 "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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Fidelity reduces valuations of Meesho, Pine Labs as of October 2023
In September 2021, Fidelity led a $570 million round in Meesho along with B Capital Group, a venture capital firm co-founded by Facebook Co-Founder Eduardo Luiz Saverin
 "Fidelity reduces valuations of Meesho, Pine Labs as of October 2023")
Focus on reducing losses, bring in efficiency: Byju's India CFO Golani
The company has taken various measures to improve the company's operating financial conditions including scaling down the underperforming businesses significantly
 "Focus on reducing losses, bring in efficiency: Byju's India CFO Golani")
Robots for reducing manual efforts to nanotech cancer therapy: IISc
FSID at the Indian Institute of Science is witnessing a significant increase in terms of the number of applications of deep tech firms over the last few years
 "Robots for reducing manual efforts to nanotech cancer therapy: IISc")
FY22 report card: Edtech company Byju's losses widen to Rs 8,245.2 cr
Subsidiaries WhiteHat Jr, Osmo contributed to 45% of losses
 "FY22 report card: Edtech company Byju's losses widen to Rs 8,245.2 cr")
From sweets to diyas, Ram Mandir inauguration rings in 'second Diwali'
The main thoroughfares, public places, markets, and private buildings were adorned with large cut-outs of Lord Ram, Ram flags, posters, banners, etc, displaying the frenzy around Ram Mandir
 "From sweets to diyas, Ram Mandir inauguration rings in 'second Diwali'")
Eruditus revenue jumps 75% in FY23; losses narrow to Rs 1,049 crore
Founded by Ashwin Damera and Chaitanya Kalipatnapu in 2010, Eruditus served 250,000 students across 80 countries in FY23
 "Eruditus revenue jumps 75% in FY23; losses narrow to Rs 1,049 crore")
Udaan's CFO Aditya Pande quits to join IndiGo parent as group CEO
Pande will report to Rahul Bhatia, CEO, InterGlobe, and all the existing direct reports would, in turn, report to Pande
 "Udaan's CFO Aditya Pande quits to join IndiGo parent as group CEO")
Coaching centres study age-limit guidelines of education ministry
Some say parents, students, institutes will find alternatives to cater to demand
 "Coaching centres study age-limit guidelines of education ministry")
Won't be long before Boeing makes aircraft in India, says PM Modi
Modi stressed the need to build an aircraft manufacturing ecosystem in India as he highlighted the potential of India's strong network of MSMEs, huge talent pool, and stable government in India
 "Won't be long before Boeing makes aircraft in India, says PM Modi")
PM Modi unveils Boeing's global engineering, technology campus in Bengaluru
The campus, spread across 43 acres, is built with an investment of Rs 1,600 cr
 "PM Modi unveils Boeing's global engineering, technology campus in Bengaluru")
Ram Temple inauguration: Khan Market to Hazratganj, Ayodhya theme reigns
Temple's inaugural event to bring in business worth Rs 1 trillion, CAIT estimates
 "Ram Temple inauguration: Khan Market to Hazratganj, Ayodhya theme reigns")
Corporate India on overdrive to celebrate Ram Mandir inauguration
Companies rushing to do their bit and be a part of mega celebrations
 "Corporate India on overdrive to celebrate Ram Mandir inauguration")
PhonePe sells over 9 million insurance policies since September 2021
The Walmart-owned fintech firm said it has contributed to over 65% growth for two-wheeler digital Insurance in India
 "PhonePe sells over 9 million insurance policies since September 2021")
DMI group acquires BNPL startup ZestMoney in a distress sale deal
The acquisition comes more than a month after Bengaluru-based ZestMoney, shut down amid an unsuccessful attempt to revive its business under new management and regulatory uncertainty
 "DMI group acquires BNPL startup ZestMoney in a distress sale deal")
Byju's vs BCCI: Edtech wants arbitrator to decide Rs 158 crore dispute
The firm claimed before the NCLT that it is in talks with the BCCI to settle the payment dispute. However, the BCCI reportedly denied and told the tribunal that no negotiations were underway
 "Byju's vs BCCI: Edtech wants arbitrator to decide Rs 158 crore dispute")
Electric 2W manufacturer Ather Energy to launch family scooter 'Diesel'
The Ola rival's new scooter is slated to be unveiled in mid-2024
 "Electric 2W manufacturer Ather Energy to launch family scooter 'Diesel'")
SoftBank fully exits Policybazaar parent, collects $650 mn in returns
SoftBank had invested about $200 million in PB Fintech. In Dec 2023, Softbank's arm SVF Python II (Cayman) divested a 2.5 per cent stake in Policybazaar's parent firm PB Fintech for Rs 914 crore
 "SoftBank fully exits Policybazaar parent, collects $650 mn in returns")
Amazon utilises water, air, rail for faster delivery of packages in India
Starting with one fulfillment centre in 2013, Amazon has also built a nationwide infrastructure and tied up with organisations like India Post and the Indian Railways
 "Amazon utilises water, air, rail for faster delivery of packages in India")
Udaan's valuation shrinks by 43.5% to $1.7 billion in Series E round
Last year, Udaan raised $350 million in convertible notes and debt from shareholders and bondholders, with no change in valuation
 "Udaan's valuation shrinks by 43.5% to $1.7 billion in Series E round")
Byju's-owned Aakash Educational's FY22 net up 82% at Rs 79.5 crore
The company's net profit increased 82.2 per cent year-on-year (Y-oY) to Rs 79.5 crore in FY22
 "Byju's-owned Aakash Educational's FY22 net up 82% at Rs 79.5 crore")