 "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.
Page 61 - Peerzada Abrar
Byju's CFO Ajay Goel returns to Vedanta Ltd to oversee restructuring
The development comes at a time when the firm was to present its audited financials for FY22 in the second week of October
 "Byju's CFO Ajay Goel returns to Vedanta Ltd to oversee restructuring")
MS Dhoni-backed drone startup Garuda Aerospace raises funding of Rs 25 cr
"This fresh capital infusion will play a crucial role in accelerating our growth and enhancing our capabilities to meet the escalating market demand," said Agnishwar Jayaprakash
 "MS Dhoni-backed drone startup Garuda Aerospace raises funding of Rs 25 cr")
E-commerce firm Flipkart loss widens 45% to Rs 4,891 crore in FY23
The company's total expenses for the fiscal were reported as Rs 60,858 crore, an increase of 11.5 per cent from Rs 54,580 crore in the last fiscal
 "E-commerce firm Flipkart loss widens 45% to Rs 4,891 crore in FY23")
Week 1 of festival season sale saw Rs 47,000 crore GMV, says Redseer
Redseer claimed that Flipkart Group, continues to assert its leadership in Week 1 of the 2023 Festive Season sale
 "Week 1 of festival season sale saw Rs 47,000 crore GMV, says Redseer")
VerSe's revenue grew by 57% to Rs 1,809 cr; burn reduced by 34% in FY23
Its content platform Dailyhunt clocked a revenue of over Rs 1,200 crore and was Ebitda positive in FY23, with the financial year exiting at 10 per cent Ebitda
 "VerSe's revenue grew by 57% to Rs 1,809 cr; burn reduced by 34% in FY23")
Manipal Group chairman Ranjan Pai in talks to invest $350 mn in Byju's
The capital from Pai is expected to help Byju's release the pledge on shares of Aakash, which were offered as collateral for the Davidson Kempner loan
 "Manipal Group chairman Ranjan Pai in talks to invest $350 mn in Byju's")
Myntra's Big Fashion Festival sale registers 460 mn customer visits
Some of the leading metros driving demand were Bengaluru, New Delhi, Mumbai and Hyderabad, among others
 "Myntra's Big Fashion Festival sale registers 460 mn customer visits")
Rebel Foods' EatSure partners with railways to provide food on trains
Customers can order food from multiple restaurants and get it delivered to their seats using their PNR (passenger name record) numbers while travelling on the Indian Railway Network
 "Rebel Foods' EatSure partners with railways to provide food on trains")
PhonePe records revenue of Rs 2,914 crore in FY23, marks 77% jump
The Walmart-owned fintech firm said this growth is led primarily by its focus on market expansion and leadership in the digital payments market.
 "PhonePe records revenue of Rs 2,914 crore in FY23, marks 77% jump")
E-commerce firm Meesho's CXO for business Utkrishta Kumar moves on
Megha Agarwal, the current CXO for growth at Meesho, will take the mantle from Kumar and be the new CXO for business and Nilesh Gupta will take on the role of general manager for user growth
 "E-commerce firm Meesho's CXO for business Utkrishta Kumar moves on")
Meesho sees record 16 mn new app installs during Mega Blockbuster sale
With 1.2 billion customer visits, categories such as home and kitchen, fashion as well as beauty and personal care garnered more than 72 orders per second
 "Meesho sees record 16 mn new app installs during Mega Blockbuster sale")
AI startup Leucine gets $7 mn funding from Ecolab Inc, angel investors
Leucine's platform can be rolled out in as little as eight weeks, thanks to its proprietary AI-enabled digital process builder
 "AI startup Leucine gets $7 mn funding from Ecolab Inc, angel investors")
Record 1.4 bn visits during 'The Big Billion Days' festive sales: Flipkart
Choices in smartphones, laptops, tablets and home appliances indicate a strong premiumisation trend across India this year, said Flipkart
 "Record 1.4 bn visits during 'The Big Billion Days' festive sales: Flipkart")
Expanding our grocery, fulfilment centres in 12 months: Flipkart's Badri
50% customers will see same/next-day deliveries this festival season: Flipkart's Hemant Badri
 "Expanding our grocery, fulfilment centres in 12 months: Flipkart's Badri")
Early Diwali: Fomo, premiumisation light up e-commerce festival sales
GMV rises 16% to Rs 29,000 crore in first four days of mega events, says Redseer report
 "Early Diwali: Fomo, premiumisation light up e-commerce festival sales")
IVCA partners with ISB for training programme for PE/VC fund managers
One common strategy adopted by private equity and venture capital firms to protect their investment is to nominate a director on the board of a start-up company
 "IVCA partners with ISB for training programme for PE/VC fund managers")
Venture Highway gets 50x returns in secondary sale of stake in Meesho
Venture Highway, an early and long-term backer of Meesho, invested in the company's first seed round over eight years ago
 "Venture Highway gets 50x returns in secondary sale of stake in Meesho")
Nikhil Kamath's fund, others, back elder care platform Age Care Labs
The platform has closed $11 million in its Pre-Series B round from Rainmatter Capital (Zerodha's investment arm) and Gruhas (venture capital fund co-founded by Nikhil Kamath and Abhijeet Pai)
 "Nikhil Kamath's fund, others, back elder care platform Age Care Labs")
E-com opportunity worth $13 bn for MSMEs during festive season: Shiprocket
With rising e-commerce activity, Shiprocket expects around 10 to 15 per cent of total order volume to come from first-time shoppers
 "E-com opportunity worth $13 bn for MSMEs during festive season: Shiprocket")
Karnataka govt's US visit garners $3 bn worth of investment interest
The delegation held meetings with global companies like Applied Materials, AMD, Juniper, Global Foundries, Lam Research, Boeing, Krypton and Dell
 "Karnataka govt's US visit garners $3 bn worth of investment interest")