 "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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Edtech giant Byju's may soon raise $1 billion from ADQ and Oaktree
Once edtech giant closes it, this will be one of the largest funding rounds
 "Edtech giant Byju's may soon raise $1 billion from ADQ and Oaktree")
Stride Ventures announces first close of third venture debt fund at $100 mn
Firm invests in startups that exhibit robust business models and strong unit economics
 "Stride Ventures announces first close of third venture debt fund at $100 mn")
Swiggy, Zomato may not offer steep discounts after govt-backed ONDC move
E-food delivery majors may instead partner the govt network
 "Swiggy, Zomato may not offer steep discounts after govt-backed ONDC move")
US investment firm Invesco slashes Swiggy valuation by 33% to $5.5 billion
This is the second time Invesco has trimmed the valuation of Swiggy, which is backed by SoftBank and Prosus
 "US investment firm Invesco slashes Swiggy valuation by 33% to $5.5 billion")
Edtech firm Cuemath lays off 100 employees; founder returns as CEO
Edtech companies laying off employees to conserve cash and focus on profitability
 "Edtech firm Cuemath lays off 100 employees; founder returns as CEO")
Never said we are deferring our IPO plans: Pine Labs CEO B Amrish Rau
'Central bank digital currency (CBDC) and Digital Rupee open up exciting opportunities and if implemented correctly'
 "Never said we are deferring our IPO plans: Pine Labs CEO B Amrish Rau")
Govt-backed ONDC looks to take a bite from Zomato and Swiggy plate
ONDC is offering low prices for the same food compared to Swiggy, Zomato
 "Govt-backed ONDC looks to take a bite from Zomato and Swiggy plate")
Meesho lays off 251 employees, CEO admits 'judgement errors in over-hiring'
SoftBank-backed e-commerce firing 15% of workforce, cites 'harsh circumstances'
 "Meesho lays off 251 employees, CEO admits 'judgement errors in over-hiring'")
India's consumption is expected to become 50% cashless by FY26: Report
There will be some 350 mn digital consumers in 'cash displacement market' in three years
 "India's consumption is expected to become 50% cashless by FY26: Report")
Iron Pillar leads supply chain tech firm Pando's $30 mn Series B Funding
With the global logistics SaaS tech market estimated to grow to $25 billion by 2025, Pando said it is well-positioned to benefit from the broader tailwinds
 "Iron Pillar leads supply chain tech firm Pando's $30 mn Series B Funding")
Swiggy disbursed over Rs 31 cr in claims to delivery partners in FY22-23
This is an increase of around 10% when compared to the FY 2021-2022
 "Swiggy disbursed over Rs 31 cr in claims to delivery partners in FY22-23")
Alakh Pandey is scaling up tech to solve education in rural India
Pandey's edtech firm PhysicsWallah is on a mission to reach every corner of the country and connect with over 250 million students by 2025
 "Alakh Pandey is scaling up tech to solve education in rural India")
PhonePe goes live with UPI LITE to enable low-value transactions
Feature enables faster, seamless transactions for low-value amounts of Rs 200 or less
 "PhonePe goes live with UPI LITE to enable low-value transactions")
Pine Labs partners ICICI Bank to enable Digital Rupee on PoS terminals
Digital Rupee opens up exciting opportunities and if implemented correctly, it can accelerate the migration from paper-based currency to digital, said Pine Labs CEO B Amrish Rau
 "Pine Labs partners ICICI Bank to enable Digital Rupee on PoS terminals")
ED raid likely to hit edtech giant Byju's $700-million fundraising plan
The Bengaluru-based firm, which achieved a valuation of $22 billion in a funding round in March last year, is in the process of raising $700 million from investors, according to the sources
 "ED raid likely to hit edtech giant Byju's $700-million fundraising plan")
Retail tech firm Ace Turtle raises Rs 293 cr from Vertex, others
Start-up will use the funds to recruit talent and for business growth
 "Retail tech firm Ace Turtle raises Rs 293 cr from Vertex, others")
Myntra launches platform to tap 10 mn new Gen-Z shoppers in 2 years
The opportunity is huge, as 20 per cent of the world's Gen-Z live in India
 "Myntra launches platform to tap 10 mn new Gen-Z shoppers in 2 years")
Brought in Rs 28,000 cr FDI to India, says Byju Raveendran on ED raid
A day after ED conducted searches, seizure action at premises of Byju's, the founder and CEO Raveendran said that the company has taken all efforts to comply with all applicable foreign exchange laws
 "Brought in Rs 28,000 cr FDI to India, says Byju Raveendran on ED raid")
Germany's SAP sees 'phenomenal growth' in India, will increase hiring
Company considering 'specific investment' in the country for sustainability solutions
 "Germany's SAP sees 'phenomenal growth' in India, will increase hiring")
Uptick in PF enrolment, 1.38 cr net users joined EPFO scheme in 2021-22
The latest EPFO payroll figures from the past five years (2017-22) indicate that Maharashtra, Karnataka, Tamil Nadu, Gujarat, and Haryana have contributed significantly to the overall net EPFO
 "Uptick in PF enrolment, 1.38 cr net users joined EPFO scheme in 2021-22")