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 its 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. There, he covered the entrepreneurship ecosystem, including startups, 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 its 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. There, he covered the entrepreneurship ecosystem, including startups, 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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Flipkart Wholesale sees 70% e-commerce adoption by kiranas at festive sale
Over 500,000 kiranas across 10,000 pin codes in 24 states and union territories shopped on the platform and through the Flipkart Wholesale Best Price stores
 "Flipkart Wholesale sees 70% e-commerce adoption by kiranas at festive sale")
Myntra concludes its festive sale with record 52 mn visitors, 8 mn orders
Held between October 3-10, Myntra's event had 7.6 billion homepage impressions. There were 9,000 orders per minute at peak; 45% of demand came from tier-2 and 3 cities
 "Myntra concludes its festive sale with record 52 mn visitors, 8 mn orders")
Google, Temasek back Indian neo-banking firm Open with $100 mn investment
Open plans to use the funds to strengthen its leadership in SME neo-banking space. taking the total SME base from 2 million at present to 5 million in India and expand its services to South East Asia
 "Google, Temasek back Indian neo-banking firm Open with $100 mn investment")
Virtual events platform Hubilo raises $125 mn for global expansion
The investment signals a change in ways people engage and share experiences at a time when uncertainty about Covid-19 has seen cancelled events and delayed a return to traditional office environment
 "Virtual events platform Hubilo raises $125 mn for global expansion")
M2P Fintech raises $35 mn from Tiger Global to expand API platform globally
M2P's platform powers some of the leading banks, fintechs, and consumer internet companies across Asia becoming the leading fintech enabler in the region
 "M2P Fintech raises $35 mn from Tiger Global to expand API platform globally")
ReshaMandi raises $30 million from Creation Investments, others
Founded in May 2020, ReshaMandi provides a full-stack digital ecosystem, starting from farm to fashion
 "ReshaMandi raises $30 million from Creation Investments, others")
E-commerce firms clock $2.7 bn in sales in first four days of festive sale
E-commerce firms are on track to achieve $4.8 billion gross merchandise value
 "E-commerce firms clock $2.7 bn in sales in first four days of festive sale")
Myntra poised to become India's largest beauty and personal care player
The segment is a major driver of new customer acquisition for the Walmart-owned firm, as vaccination penetration rises and more people venture outdoors
 "Myntra poised to become India's largest beauty and personal care player")
Ola launches vehicle buying platform Ola Cars, names Arun Sirdeshmukh CEO
Service will compete with Droom, CarDekho, Cars24, Spinny, Carwale and CarTrade. Ola Cars will begin with pre-owned and then include new vehicles from Ola Electric and other auto brands
 "Ola launches vehicle buying platform Ola Cars, names Arun Sirdeshmukh CEO")
Cloud kitchen startup Rebel Foods is 31st Indian unicorn, raises $175 mn
The Mumbai-based firm, which operates over 4,000 internet restaurants and has built over 45 brands across 10 countries, is now eyeing an IPO
 "Cloud kitchen startup Rebel Foods is 31st Indian unicorn, raises $175 mn")
Amazon Pay offering rewards to customers during month-long festive event
Customers can extend their budget and shop for favourite items across categories, can also use different payment modes on Amazon Pay to shop seamlessly
 "Amazon Pay offering rewards to customers during month-long festive event")
Flipkart's Shopsy gets 250,000 sellers, 5.1 mn users in 100 days of launch
The social commerce platform has got immense response from sellers, resellers and consumers across the country, with the platform already observing 40x growth since launch
 "Flipkart's Shopsy gets 250,000 sellers, 5.1 mn users in 100 days of launch")
Bizongo turns profitable; eyes $300 mn in annualised revenue by FY22
The tech-enabled B2B e-commerce platform for customised goods, has grown four times since the start of the year, and already surpassed $200 million in annualised revenue.
 "Bizongo turns profitable; eyes $300 mn in annualised revenue by FY22")
BharatPe enters BNPL, offers even 'golgappas' on EMI as it bets on offline
Launches new product 'postpe' towards this end, which customers can download from Play Store and avail interest-free credit limit of up to Rs 10 lakh
 "BharatPe enters BNPL, offers even 'golgappas' on EMI as it bets on offline")
Crypto startup CoinSwitch Kuber is 30th Indian unicorn with $260 mn funding
It is also the second crypto unicorn in the country, with valuation crossing $1.9 bn after Series C round led by Andreessen Horowitz
 "Crypto startup CoinSwitch Kuber is 30th Indian unicorn with $260 mn funding")
Ananth Narayanan-led Mensa Brands invests in 10 fashion and beauty brands
Over the next three years, Mensa will acquire over 50 brands across categories including home, garden, apparel, personal care, and beauty
 "Ananth Narayanan-led Mensa Brands invests in 10 fashion and beauty brands")
This startup is using IoT to help India's silk farmers get superior yields
ReshaMandi embraces the entire silk supply chain from farmer to consumer. While its IoT devices help improve cocoon quality, the firm is also is a one-stop-shop for weavers and retailers
 "This startup is using IoT to help India's silk farmers get superior yields")
Meat startup Licious becomes first Indian D2C unicorn with $52 mn fundraise
Licious has successfully delivered to more than 2 million unique customers to date
 "Meat startup Licious becomes first Indian D2C unicorn with $52 mn fundraise")
Ola acquires GeoSpoc to build next-gen location tech for undisclosed sum
GeoSpoc co-founder Dhruva Rajan and his team of Geospatial scientists and engineers will be joining Ola
 "Ola acquires GeoSpoc to build next-gen location tech for undisclosed sum")
Edtech startup upGrad crosses $210 million annual revenue run rate
The firm has chalked a multidimensional growth plan
 "Edtech startup upGrad crosses $210 million annual revenue run rate")