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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Long-overdue salaries: 62 ex-staffers plan to take Byju's to NCLT
About 62 former employees of Byju's have come together and sent a notice of filing an insolvency and bankruptcy case against the troubled edtech firm at NCLT if their pending dues are not paid
 "Long-overdue salaries: 62 ex-staffers plan to take Byju's to NCLT")
NCLT asks Byju's to pay salaries to employees, warns firm of facing audit
The edtech firm has paid April, May salaries but is yet to make full payments for February and March
Wipro Consumer Care-Ventures leads investment round in snacks firm LetsTry
Founded in 2021 by Nitin Kalra, LetsTry offers premium quality snacks that resonate with the traditional tastes and preferences of Indian consumers
 "Wipro Consumer Care-Ventures leads investment round in snacks firm LetsTry")
Edtech major Byju's asks for 48 hrs to decide on selling or pledging shares
The edtech firm's US-based lenders have filed a plea to prevent the company from pledging, selling or transferring its shares
Unacademy gives pink slips to 250 employees in another round of layoffs
Unacademy has had multiple rounds of layoffs since 2022. Its workforce is down to below 3,000 as against 6,000 in the early part of 2022, according to sources
 "Unacademy gives pink slips to 250 employees in another round of layoffs")
Byju's second rights issue: Karnataka HC sets aside NCLT interim order
Byju's recently moved the Karnataka High Court challenging the order of the National Company Law Tribunal (NCLT) restraining it from going ahead with the second rights issue
 "Byju's second rights issue: Karnataka HC sets aside NCLT interim order")
Indian fast fashion industry poised to reach over $50 bn by FY31: Redseer
In FY24 alone, the fast fashion sector saw a remarkable growth rate of 30-40%
 "Indian fast fashion industry poised to reach over $50 bn by FY31: Redseer")
Former SoftBank managing partner Lydia Jett rejoins Flipkart's board
The Flipkart board also comprises HDFC chief executive Keki Mistry and senior Walmart executives
 "Former SoftBank managing partner Lydia Jett rejoins Flipkart's board")
YC-backed AI startup Pivot Robots raises funding from NuVentures
Pivot Robots, founded last year by two Carnegie Mellon University graduates Siddharth Girdhar and Vignesh Rajmohan, uses artificial intelligence to power automation in the manufacturing sector
 "YC-backed AI startup Pivot Robots raises funding from NuVentures")
Will have our cells in EVs by early 2025: Ola Electric's Bhavish Aggarwal
These cells would be manufactured from its newly set up Ola Gigafactory in Krishnagiri, Tamil Nadu
 "Will have our cells in EVs by early 2025: Ola Electric's Bhavish Aggarwal")
Aim to make India a core part of the global energy revolution: Ola Electric
Bhavish Aggarwal, founder, says leading global products should be made in the country, for India and the world
 "Aim to make India a core part of the global energy revolution: Ola Electric")
Byju failed because he didn't listen to anyone: Unacademy CEO Gaurav Munjal
Munjal questioned Raveendran's leadership and his ability to take feedback
 "Byju failed because he didn't listen to anyone: Unacademy CEO Gaurav Munjal")
Nodwin Gaming to increase its ownership in Freaks 4U in Rs 271 cr deal
By integrating Freaks 4U Gaming's expertise and resources, Nodwin is poised to expand its global footprint in the gaming and esports industries, says Akshat Rathee, co-founder of Nodwin Gaming
 "Nodwin Gaming to increase its ownership in Freaks 4U in Rs 271 cr deal")
Online pharmacy players look for regulatory framework for industry
A division bench of the Madras HC has set aside an earlier order that disallowed them to engage in digital sale of medicines
 "Online pharmacy players look for regulatory framework for industry")
Negative one to zero: Can South Park Commons become India's Y-Combinator?
South Park Commons is a tech startup community and early stage venture fund
 "Negative one to zero: Can South Park Commons become India's Y-Combinator?")
Indian fashion brands are becoming hot bets for venture capital firms
The fashion and lifestyle space is India's second largest consumer category, valued at $110 billion with approximately 10 per cent online at $11 billion
Bharat Innovation Fund co-founder foresees global reach of Indian deep tech
India's deep tech sector has surged to over 4,500 firms, with strong government support and policy initiatives. But access to capital remains a challenge for startups in this sector
 "Bharat Innovation Fund co-founder foresees global reach of Indian deep tech")
Two Brothers Organic Farms raises Rs 58.25 crore in Series-A round
This funding would help the brand grow its market presence in India and the United States and promote the adoption of organic food
 "Two Brothers Organic Farms raises Rs 58.25 crore in Series-A round")
Dairy startup co Sid's Farm raises $10 million in Series A Round
Sid's Farm plans to use the funds to establish a strong presence in Hyderabad and Bengaluru by enhancing manufacturing capabilities
 "Dairy startup co Sid's Farm raises $10 million in Series A Round")
Prosus writes off investment in Byju's, records $493 million loss
This would be perhaps the first such large write-off announced by a large institutional investor in India