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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Key shareholders of Byju's call for EGM, want CEO Raveendran to quit
The current board of Byju's parent Think and Learn mainly consists of Raveendran, his wife and Byju's co-founder Divya Gokulnath, and his brother Riju Ravindran
 "Key shareholders of Byju's call for EGM, want CEO Raveendran to quit")
Walmart-owned Flipkart to roll out same-day delivery across India
Customers will receive their products before midnight if they place their orders by 1 pm. Order fulfilment will take place from Flipkart's warehouses located in various parts of the country
 "Walmart-owned Flipkart to roll out same-day delivery across India")
US-based Fidelity cuts SoftBank-backed Meesho's valuation to $3.5 bn
This is a decline of about 29 per cent from the SoftBank-backed company's peak valuation of $4.9 billion
 "US-based Fidelity cuts SoftBank-backed Meesho's valuation to $3.5 bn")
Uber launches operations in Jammu & Kashmir; starting with Srinagar
Residents of Srinagar and visiting tourists can now book Uber Go and Uber Intercity rides for their mobility needs
 "Uber launches operations in Jammu & Kashmir; starting with Srinagar")
India's M&A thrives: Sustains growth amid global economic slowdown
Mid-market acquirers shine, capturing almost 50% of deals in 2023, says Bain & Company's global M&A report
 "India's M&A thrives: Sustains growth amid global economic slowdown")
Kore.ai, startup building conversational AI, secures $150 mn in funding
The investment was led by FTV Capital and had participation from chip giant Nvidia
 "Kore.ai, startup building conversational AI, secures $150 mn in funding")
Cash-strapped Byju's to raise $200 mn after taking 99% valuation cut
Equity rights issue likely at post-money valuation of $230-250 million
 "Cash-strapped Byju's to raise $200 mn after taking 99% valuation cut")
Flipkart co-founder Binny Bansal exits board, launches new startup OppDoor
Binny Bansal has officially exited the board the Walmart-owned e-commerce firm, which he founded along with Sachin Bansal 16 years ago
 "Flipkart co-founder Binny Bansal exits board, launches new startup OppDoor")
Bhavish Aggarwal's AI startup Krutrim turns unicorn after raising $50 mn
The AI startup is the third venture helmed by Aggarwal to achieve a $1 billion valuation, after mobility firm Ola and electric vehicle manufacturer Ola Electric
 "Bhavish Aggarwal's AI startup Krutrim turns unicorn after raising $50 mn")
Ola unveils e-bike service in Delhi, Hyderabad; plans 10K EVs across cities
The company plans to deploy 10,000 e-vehicles across Bengaluru, Delhi and Hyderabad over 2 months
 "Ola unveils e-bike service in Delhi, Hyderabad; plans 10K EVs across cities")
Ola's mobility business made profit in FY23: Goal to serve 1 bn Indians
Hemant Bakshi, a former top Unilever executive, to lead Ola Mobility as CEO, with an aggressive growth focus
 "Ola's mobility business made profit in FY23: Goal to serve 1 bn Indians")
US lenders take Byju's to NCLT to initiate insolvency proceedings
The lenders said this was done after over 16 months of efforts on behalf of the Ad Hoc Group to restructure the loans
 "US lenders take Byju's to NCLT to initiate insolvency proceedings")
Flipkart may let 1,000 employees go, Swiggy likely to lay off 400
Flipkart is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026
 "Flipkart may let 1,000 employees go, Swiggy likely to lay off 400")
Fidelity reduces valuations of Meesho, Pine Labs as of October 2023
In September 2021, Fidelity led a $570 million round in Meesho along with B Capital Group, a venture capital firm co-founded by Facebook Co-Founder Eduardo Luiz Saverin
Focus on reducing losses, bring in efficiency: Byju's India CFO Golani
The company has taken various measures to improve the company's operating financial conditions including scaling down the underperforming businesses significantly
 "Focus on reducing losses, bring in efficiency: Byju's India CFO Golani")
Robots for reducing manual efforts to nanotech cancer therapy: IISc
FSID at the Indian Institute of Science is witnessing a significant increase in terms of the number of applications of deep tech firms over the last few years
 "Robots for reducing manual efforts to nanotech cancer therapy: IISc")
FY22 report card: Edtech company Byju's losses widen to Rs 8,245.2 cr
Subsidiaries WhiteHat Jr, Osmo contributed to 45% of losses
 "FY22 report card: Edtech company Byju's losses widen to Rs 8,245.2 cr")
From sweets to diyas, Ram Mandir inauguration rings in 'second Diwali'
The main thoroughfares, public places, markets, and private buildings were adorned with large cut-outs of Lord Ram, Ram flags, posters, banners, etc, displaying the frenzy around Ram Mandir
 "From sweets to diyas, Ram Mandir inauguration rings in 'second Diwali'")
Eruditus revenue jumps 75% in FY23; losses narrow to Rs 1,049 crore
Founded by Ashwin Damera and Chaitanya Kalipatnapu in 2010, Eruditus served 250,000 students across 80 countries in FY23
 "Eruditus revenue jumps 75% in FY23; losses narrow to Rs 1,049 crore")
Udaan's CFO Aditya Pande quits to join IndiGo parent as group CEO
Pande will report to Rahul Bhatia, CEO, InterGlobe, and all the existing direct reports would, in turn, report to Pande
 "Udaan's CFO Aditya Pande quits to join IndiGo parent as group CEO")