 "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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NCLAT dismisses plea filed by foreign investors against edtech giant Byju's
NCLAT dismissed an appeal filed by the four investors - MIH EdTech Investments, a subsidiary of Prosus NV, General Atlantic Singapore, Peak XV Partners Operations LLC, and Sofina
 "NCLAT dismisses plea filed by foreign investors against edtech giant Byju's")
E-com giant Amazon to acquire some assets of streaming service MX Player
The company said that the transaction is not yet complete
 "E-com giant Amazon to acquire some assets of streaming service MX Player")
Byju's lenders start bankruptcy proceedings against its US assets
Byju's founders unlawfully diverted $533 million in loan proceeds, the whereabouts of which are still unknown, alleged the lenders
 "Byju's lenders start bankruptcy proceedings against its US assets")
Lenskart raises $200 million in secondary round at $5 billion valuation
Peyush Bansal-led firm continues to deepen its penetration in India while rapidly scaling its international presence in Asia including in Southeast Asia and the Middle East
 "Lenskart raises $200 million in secondary round at $5 billion valuation")
Baron Capital boosts food delivery firm Swiggy valuation to $15.1 billion
The food delivery firm's investors have been consecutively marking up the company's valuation over the last year as it gears up for an IPO this year
 "Baron Capital boosts food delivery firm Swiggy valuation to $15.1 billion")
Selling like hot cakes: Online sales blaze as consumers click to stay cool
One of the main players in the quick commerce space- Swiggy Instamart, has witnessed a sharp rise in sales of juices, cold drinks, and ice creams
 "Selling like hot cakes: Online sales blaze as consumers click to stay cool")
What we see today is appropriate level of investment: Ben Mathias
Mathias said there is a correction taking place in the ecosystem compared to three years ago when companies were given money unjustifiably
 "What we see today is appropriate level of investment: Ben Mathias")
Aim to connect lenders, customers for financial needs: PhonePe Lending CEO
In unsecured loans, there is no asset or underlying security that is taken from the customer, said Gala
 "Aim to connect lenders, customers for financial needs: PhonePe Lending CEO")
Flipkart expects over 100 mn visitors during its 'Big End of Season Sale'
Beginning June 1, 2024, this special fashion event will offer customers a personalised shopping experience with access to over 75 lakh styles
 "Flipkart expects over 100 mn visitors during its 'Big End of Season Sale'")
PhonePe launches secured lending platform with banks, fintech firms
Walmart-owned fintech firm says service will help 535 mn users on its platform
 "PhonePe launches secured lending platform with banks, fintech firms")
Non-metros emerging as significant contributors to fashion: Myntra's CBO
Sharon Pais says the demand for international fashion labels, particularly from tier-II cities and beyond, has seen a notable uptick
 "Non-metros emerging as significant contributors to fashion: Myntra's CBO")
Skye Air Mobility: Pioneering drone delivery in cities and remote areas
New Delhi-based tech start-up has transformed the concept of drone deliveries, with an impressive track record of two million successful deliveries
 "Skye Air Mobility: Pioneering drone delivery in cities and remote areas")
Licious gears up for IPO with new CFO Karishma Gupta, profit pursuit
The Bengaluru-based fresh meat company has over 500 Licious stores opening across 20 cities in the next five years as it targets operating profit by the end of the current financial year
 "Licious gears up for IPO with new CFO Karishma Gupta, profit pursuit")
Flipkart to Swiggy: Valuations of top startups on path to recovery in 2024
After inflated valuations in 2022 and subsequent markdowns, the companies are on the path to recovery to keep their valuations realistic as they aim for profitability
 "Flipkart to Swiggy: Valuations of top startups on path to recovery in 2024")
Google invests $350 mn in Flipkart as part of $1 billion funding round
Fundraise to help e-com major, which is eyeing $60 bn valuation at the time of IPO
 "Google invests $350 mn in Flipkart as part of $1 billion funding round")
Prathyusha Agarwal to head Flipkart's social commerce platform Shopsy
Shopsy is Flipkart's hyper-value e-commerce platform that competes with Meesho and Amazon Bazaar
 "Prathyusha Agarwal to head Flipkart's social commerce platform Shopsy")
Delhi to Delaware: No end in sight for edtech giant Byju's problems
Ex-employees planning to take firm to NCLT next week to demand their dues
Edtech company Byju's starts new batches in 240 centres across India
On May 19, Byju Raveendran, founder and CEO of Byju's, addressed all Byju's Tuition Centres (BTC) heads and shared a new business model, based on intrapreneurship.
 "Edtech company Byju's starts new batches in 240 centres across India")
Exploring the opportunity of quick-commerce: Flipkart V-P Hari Kumar
Kumar said that the company is deepening the reach of its grocery services in metros and expanding in tier-2+ towns across Bharat
 "Exploring the opportunity of quick-commerce: Flipkart V-P Hari Kumar")
Flipkart Grocery records 1.6X y-o-y growth; scales up operations in metros
The e-commerce firm reports notable surge in premium categories such as liquid detergents by 1.8times, dry fruits by 1.5times, and energy drinks by 1.5 times
 "Flipkart Grocery records 1.6X y-o-y growth; scales up operations in metros")