 "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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Meesho building portfolio to tap next billion users: CXO Utkrishta Kumar
Meesho competes with players such as Walmart-owned Flipkart, Amazon and Reliance's JioMart
 "Meesho building portfolio to tap next billion users: CXO Utkrishta Kumar")
Swiggy CTO Dale Vaz steps down, Madhusudhan Rao named for his role
Karthik Gurumurthy, another senior executive of the firm, reportedly going on sabbatical
 "Swiggy CTO Dale Vaz steps down, Madhusudhan Rao named for his role")
ZestMoney looking to lay off employees after deal with PhonePe fails
ZestMoney founders held a town hall on March 30 and informed employees about layoffs across depts, say sources; not known yet how many would be asked to go
 "ZestMoney looking to lay off employees after deal with PhonePe fails")
Byju's-backed Aakash expecting to cross Rs 3,000 cr in revenues this year
Byju's acquired AESL in 2021 for about $1 billion. Since then, Byju's said AESL's revenue and profits tripled
 "Byju's-backed Aakash expecting to cross Rs 3,000 cr in revenues this year")
Walmart-owned PhonePe calls off deal to acquire fintech startup ZestMoney
Lapses in due diligence, valuation disagreements, funding winter, tough regulatory environment, fintech slowdown being cited as reasons
 "Walmart-owned PhonePe calls off deal to acquire fintech startup ZestMoney")
Unacademy gives pink slips to 380 employees in another round of layoffs
With this round of layoffs, Unacademy's workforce strength is down to under 3,000 compared to 6,000 in the early part of 2022
 "Unacademy gives pink slips to 380 employees in another round of layoffs")
upGrad closes Rs 300 cr internal funding round from existing investors
Major investors in the rights include co-founder Ronnie Screwvala (Rs 212 cr) and Singapore-based Temasek (Rs 81 cr)
 "upGrad closes Rs 300 cr internal funding round from existing investors")
State govt web domains 'extremely vulnerable' to cyberattacks: Report
More than 700 credentials with passwords were leaked to the dark web in 2022, says study by cybersecurity firms
Fintech start-up Nimbbl raises $3.5 mn to improve market presence
Company says more than 4,000 merchants use its one-click payment checkout solution
 "Fintech start-up Nimbbl raises $3.5 mn to improve market presence")
Mamaearth IPO in the works, engaged with regulators: CEO Varun Alagh
The firm's annual profit was Rs 14 crore the last year
 "Mamaearth IPO in the works, engaged with regulators: CEO Varun Alagh")
Wipro Consumer Care invests unknown sum in women's health startup Gynoveda
Founded in 2019 by a husband-wife duo and a gynaecologist, Gynoveda attempts to help women aged 14-45-years cure disorders such as infertility, PCOS, and irregular menstrual cycles
 "Wipro Consumer Care invests unknown sum in women's health startup Gynoveda")
Finance Bill 2023: Angel tax another hiccup for start-ups amid funding woes
However, the Finance Ministry said that all concerns raised by stakeholders in implementing this proposal would be addressed
 "Finance Bill 2023: Angel tax another hiccup for start-ups amid funding woes")
Foxconn deal: Karnataka labour laws in focus, Tamil Nadu may follow
Allowing 12-hour shifts for all and nighttime work for women was meant to benefit software firms, but is said to have clinched Foxconn's Rs 8,000 cr investment
 "Foxconn deal: Karnataka labour laws in focus, Tamil Nadu may follow")
India's ONDC forays into the mobility segment; takes on Uber and Ola
Incorporated in December 2021, ONDC said its aims to create a facilitative model that revolutionises digital commerce, giving greater thrust to penetration of retail e-commerce in India
 "India's ONDC forays into the mobility segment; takes on Uber and Ola")
Amazon's accelerator programme to support 50 Indian D2C startups
Amazon Global Selling Propel Startup Accelerator (Propel S3) is a key part of the e-commerce giant's commitment to enabling $20 billion in e-commerce exports from India by 2025
 "Amazon's accelerator programme to support 50 Indian D2C startups")
How Indian tech cos banded together to help each other during SVB crisis
The SVB collapse has alerted hundreds of Indian investment and tech companies. They came together to help each other and share knowledge to deal with the impact
 "How Indian tech cos banded together to help each other during SVB crisis")
PhonePe raises $200 mn additional funding from Walmart at $12 bn valuation
New funding is part of PhonePe's ongoing capital raise of up to $1 bn, following its domicile shift to India last year
 "PhonePe raises $200 mn additional funding from Walmart at $12 bn valuation")
Scam-call blocker Truecaller opens first India office in Bengaluru
The company opened a facility in Bengaluru, which is its largest office in the world outside of its headquarters in Sweden
 "Scam-call blocker Truecaller opens first India office in Bengaluru")
ADIA to invest $500 mn in Lenskart, hold 10% stake in eyewear retailer
The fundraise was done at a $4.2 billion valuation, according to the sources. It will result in ADIA becoming one of the largest shareholders in Lenskart with a 10 per cent stake, say sources
 "ADIA to invest $500 mn in Lenskart, hold 10% stake in eyewear retailer")
Jubilant plans to grow Popeyes India network to 250 restaurants in 5 years
US fried-chicken chain Popeyes made its debut in India with the opening of its first restaurant in Bengaluru in January 2022, followed by rapid expansion to 12 restaurants in Bengaluru
 "Jubilant plans to grow Popeyes India network to 250 restaurants in 5 years")