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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PhonePe launches cross-border UPI payments service, says it's India's first
Users can activate UPI-linked bank account for the international service at the merchant location, or before that
 "PhonePe launches cross-border UPI payments service, says it's India's first")
Entropik raises $25 mn in Series B funding led by Bessemer, SIG Venture
The funding led by Bessemer Venture Partners and SIG Venture Capital would help Entropik to expand across the US, Europe and Asian Markets
 "Entropik raises $25 mn in Series B funding led by Bessemer, SIG Venture")
Budget aligned towards a self-reliant $5 trn economy by 2027: Flipkart CEO
Krishnamurthy said the focus on MSMEs, infrastructure development, and personal tax announcements pave the way for increased consumer affordability and consumption
 "Budget aligned towards a self-reliant $5 trn economy by 2027: Flipkart CEO")
Amazon India offers 50% referral fee waiver for e-commerce businesses
Businesses pay Amazon referral fees to for facilitating sales on the online marketplace
 "Amazon India offers 50% referral fee waiver for e-commerce businesses")
India bucked slowdown to emerge as global M&A hotspot in 2022: Report
In the country's fourth straight year of a steady increase in strategic M&A, deal volumes hit record levels and deal value rose by 139% in 2022
 "India bucked slowdown to emerge as global M&A hotspot in 2022: Report")
Enzene Biosciences raises $50 million, aims to expand into global markets
Enzene said it has built a highly experienced 400-person team under the leadership of Dr. Himanshu Gadgil, CEO at Enzene Biosciences Ltd
 "Enzene Biosciences raises $50 million, aims to expand into global markets")
Ankit Nagori-led Curefoods aims to expand cloud kitchens across India
Curefoods is expecting to reach annual recurring revenue (ARR) of Rs 1000 crore ($122 million) by the end of this year and it aims to be ready for an IPO in 18 months
 "Ankit Nagori-led Curefoods aims to expand cloud kitchens across India")
Cars24 plans 500 new hires across verticals in next three months
Recruitment is for both tech and non-tech roles; firm plans to scale up services in smaller towns where it is seeing an rising demand for pre-owned vehicles
 "Cars24 plans 500 new hires across verticals in next three months")
Two co-founders at Google and Twitter-backed Sharechat step down
This comes a week after Mohalla Tech Pvt Ltd, the parent company of homegrown video-sharing platforms ShareChat and Moj, laid off 20 per cent of its workforce, comprising around 500 employees
 "Two co-founders at Google and Twitter-backed Sharechat step down")
PhonePe investors had to pay Rs 8,000 cr taxes to shift base to India: CEO
Sameer Nigam says move worked due to presence of long-term investors such as Walmart, Tencent and several balance sheet investors who can take a multi-decade view
 "PhonePe investors had to pay Rs 8,000 cr taxes to shift base to India: CEO")
BharatPe makes 3 hires for corporate governance, compliance, data security
Fintech firm says it is essential to strengthen the roles as it 'focuses on getting IPO ready'
 "BharatPe makes 3 hires for corporate governance, compliance, data security")
Facebook co-founder's investment fund closes third series at $2.1 bn
Firm will invest in financial services, healthcare tech, enterprise software space
 "Facebook co-founder's investment fund closes third series at $2.1 bn")
GoMechanic cooked the books, say investors as 70% staff is laid off
According to people in the know, investors may now ask GoMechanic founders to take leave of absence
 "GoMechanic cooked the books, say investors as 70% staff is laid off")
After criticism, Byju's introduces new process to verify customer consent
Technology-drive policy to check all sales thrice, says edtech giant
 "After criticism, Byju's introduces new process to verify customer consent")
Fortis in Bengaluru completes 500 robotic aided urology procedures
The 500 robot-aided surgeries include complex robotic procedures encompassing the entire gamut of Uro-Oncology, Uro-Gynaecology, Reconstructive Urology and Kidney Transplant
 "Fortis in Bengaluru completes 500 robotic aided urology procedures")
For tech industry, 2022 was a year of mass layoffs; 2023 likely to be worse
The tech layoffs this year have exceeded the job cuts the sector faced globally during the financial crisis of 2008-2009 triggered by the Lehman Brothers' collapse
 "For tech industry, 2022 was a year of mass layoffs; 2023 likely to be worse")
Flipkart, PhonePe complete separation as fintech firm preps for fundraise
PhonePe in talks with parent Walmart, General Atlantic, and other investors to raise about $700 mn
Motorbikes, CVs to lithium-ion cells: Ola Electric's focus for 2023
The SoftBank-backed firm is also on track to bring electric cars to market by 2024
 "Motorbikes, CVs to lithium-ion cells: Ola Electric's focus for 2023")
Uber to hire 800 women techies for two new programmes by next year
The ride-hailing firm said it has gained by hiring women techies in terms of improving quality and productivity
 "Uber to hire 800 women techies for two new programmes by next year")
Mumbai to Mirzapur: Meesho witnesses a record 910 million orders in 2022
At about 140 million, Meesho said its annual transacting users exceed the combined population of the top three nations in FIFA World Cup 2022: France, Argentina and Croatia
 "Mumbai to Mirzapur: Meesho witnesses a record 910 million orders in 2022")