 "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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MakeMyTrip and Amazon Pay form strategic tie-up to offer travel services
With this alliance, MakeMyTrip will be able to further extend its distribution via Amazon Pay's large user base, especially in smaller towns, and speed up online booking of travel services
 "MakeMyTrip and Amazon Pay form strategic tie-up to offer travel services")
From Amazon to Microsoft, big technology firms bet big on India
International technology giants have pulled out all the stops in backing the country's robust digital consumption story
 "From Amazon to Microsoft, big technology firms bet big on India")
10-minute grocery delivery app Zepto comes out of stealth, raises $60 mn
Zepto was founded by two 19-year-old Stanford dropouts and includes investors like Glade Brook, Nexus, Lachy Groom, Y Combinator and Global Founders Capital
 "10-minute grocery delivery app Zepto comes out of stealth, raises $60 mn")
BharatPe plans $5 bn loan book to help small businesses with credit: CEO
Company expects growth from Unity Small Finance Bank, its joint venture with Centrum Group, says Suhail Sameer
 "BharatPe plans $5 bn loan book to help small businesses with credit: CEO")
Amazon empowers thousands of sellers during its month-long festive event
Close to 30,000 sellers became Lakhpatis; 70% of the sellers that made a sale were from non-metros; Over 330 Local shop owners became Lakhpatis
 "Amazon empowers thousands of sellers during its month-long festive event")
Meesho announces second ESOP programme worth $5.5 mn in less than a year
Firm has grown 2.8x in terms of monthly transacting users and a 2.5x by orders over past six months; now aims to reach 100 mn users and over 50 mn products by December 2022
 "Meesho announces second ESOP programme worth $5.5 mn in less than a year")
Adani Group to invest in Cleartrip, deepens strategic ties with Flipkart
As part of this investment, the Adani Group will acquire a significant minority stake in Cleartrip. The companies didn't reveal the value of the transaction
 "Adani Group to invest in Cleartrip, deepens strategic ties with Flipkart")
MMTC-PAMP launches e-commerce portal to increase D2C sales for gold
MMTC-PAMP is a joint venture between Switzerland-based bullion brand PAMP SA and MMTC Ltd, a Govt of India Undertaking
 "MMTC-PAMP launches e-commerce portal to increase D2C sales for gold")
Beauty platform Purplle.com raises $75 mn from Kedaara, Sequoia and Blume
The investment will augment the company's goal to deliver 6-8x growth in the next 5 years
 "Beauty platform Purplle.com raises $75 mn from Kedaara, Sequoia and Blume")
PayU launches 'PayU Token Hub' to help businesses comply with RBI norms
Solution has been built by PayU and Wibmo, a PayU-owned full stack global PayTech firm, in partnership with major card networks such as Visa and MasterCard, and top issuing banks
 "PayU launches 'PayU Token Hub' to help businesses comply with RBI norms")
WhiteHat Jr's music lessons for all ages; customised course for 18-plus set
Pandemic has shown how music can uplift one's health and wellbeing, help bond with others and offer several cognitive benefits for older adults, says the company
 "WhiteHat Jr's music lessons for all ages; customised course for 18-plus set")
Flipkart, Moj tie up to take video, live commerce to next 200 mn customers
The collaboration also incentivises content creators in the Moj ecosystem by enabling new commerce-led revenue streams to deepen socio-economic impact
 "Flipkart, Moj tie up to take video, live commerce to next 200 mn customers")
Drip Capital raises $175 mn to enter new markets like South Asia, LatAm
Funds raised include $40 mn in Series C and $135 mn in warehouse debt. With this, Drip Capital has raised $525 mn in all via equity and debt
 "Drip Capital raises $175 mn to enter new markets like South Asia, LatAm")
Flipkart builds Snap's Camera Kit into its app to offer users AR experience
Snap's AR technology coupled with Flipkart's understanding of its 350 million customer base will help build an immersive e-commerce experience for Indian users
We are poised at the cusp of tremendous opportunity: Cisco's Chittilapilly
Cisco's president for India and Saarc sees big scope in the digitisation of multiple industry sectors that have been poor adopters of technology
 "We are poised at the cusp of tremendous opportunity: Cisco's Chittilapilly")
Edtech giant Byju's appoints ex-Tata exec Mukut Deepak as Head of Business
Deepak, who was earlier Chief Business Development Officer at Tata Sky, will be responsible for expanding and leading the flagship business for the class 4 to 10 segment
 "Edtech giant Byju's appoints ex-Tata exec Mukut Deepak as Head of Business")
SaaS Labs raises $17 mn to expand customer base, hire team members globally
The company has been bootstrapped up until this point and will use the funding to expand its customer base, hire people, and release new products and services
 "SaaS Labs raises $17 mn to expand customer base, hire team members globally")
These teams worked remotely to help Flipkart pull off Big Billion Days sale
RedSeer says Flipkart emerged as the leader during festive sales with an impressive 64% market share. It competes with Amazon, Reliance's JioMart and Tata CLiQ in this space
 "These teams worked remotely to help Flipkart pull off Big Billion Days sale")
PhonePe's revenue grew 85% to Rs 690 cr in FY21, losses drop by 44%
The 85% YoY revenue growth was due to a rise in transactions. PhonePe has a lion's share of the volumes on United Payment Interface and Bharat Bill Payment System
 "PhonePe's revenue grew 85% to Rs 690 cr in FY21, losses drop by 44%")
Smartphones worth Rs 68 cr sold every hour on e-comm platforms: Redseer
RedSeer claimed that it has been seen that Flipkart Group emerged as the leader during the festive sales with an impressive 64 per cent market share
 "Smartphones worth Rs 68 cr sold every hour on e-comm platforms: Redseer")