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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Future Retail denies Amazon charges of facilitating 'fraudulent stratagem'
FRL says it has already made necessary disclosures on termination of leases, and has provided related updates
 "Future Retail denies Amazon charges of facilitating 'fraudulent stratagem'")
Walmart-owned PhonePe launches UPI SIP for investing in 24K gold
Setting up a gold SIP on PhonePe is a one-time, hassle-free process and all subsequent investments are completely automated
 "Walmart-owned PhonePe launches UPI SIP for investing in 24K gold")
You can't raise cash to blow it up: Ronnie Screwvala on layoffs at unicorns
In a Q&A, the upGrad chief said it is a 'lame excuse' for founders for tech unicorns to blame the situation on factors like the war in Europe and funding crunch
 "You can't raise cash to blow it up: Ronnie Screwvala on layoffs at unicorns")
We are truly seeing perfect storm of digitisation in India: AWS' Chandok
Company will support the government's plan to have Open Network Digital Commerce for e-commerce, says the senior executive.
 "We are truly seeing perfect storm of digitisation in India: AWS' Chandok")
Zomato net loss triples to Rs 360 crore in Q4, revenue rises 75%
Food delivery firm says it has expanded to more than 300 new cities and it expects revenue growth to accelerate.
 "Zomato net loss triples to Rs 360 crore in Q4, revenue rises 75%")
Start-up Wakefit logs Rs 636 cr revenue, marking 50% y-o-y growth
Firm that makes mattresses and pillows aims to expand to smaller cities and is setting up a manufacturing facility in Sonipat.
 "Start-up Wakefit logs Rs 636 cr revenue, marking 50% y-o-y growth")
Urban Company rolls out health insurance for service professionals
The tech-enabled home services company has tied up with ACKO Insurance to craft this insurance cover.
 "Urban Company rolls out health insurance for service professionals")
1K Kirana raises $25 mn, aims to serve over 10 mn consumers in 12 months
Hyperlocal shopping and distribution network says it will use the financing for improving its technology and expanding team.
 "1K Kirana raises $25 mn, aims to serve over 10 mn consumers in 12 months")
Uber steps up bus service, runs pilot services in Delhi and Gurgaon
The Uber app will let customers book bus seats as the company works with private firms and state-run services.
 "Uber steps up bus service, runs pilot services in Delhi and Gurgaon")
Ola, Uber get notices for alleged consumer rights breach, unfair practices
Improper grievance redress mechanism, poor service, hefty cancellation charges and fairness of algorithm used to charge fares among major issues raised
 "Ola, Uber get notices for alleged consumer rights breach, unfair practices")
WhatsApp will be open to all businesses through Cloud API: Mark Zuckerberg
This will be made possible by offering free, secure cloud hosting services provided by Meta
 "WhatsApp will be open to all businesses through Cloud API: Mark Zuckerberg")
Cars24 to Vedantu, start-up lay-offs accelerate on capital crunch worries
Falling valuations, slowing funding rounds add to woes; move aimed at conserving cash and shore up profitability
 "Cars24 to Vedantu, start-up lay-offs accelerate on capital crunch worries")
Uber India addresses trip cancellations, drivers not switching on AC
Cab-hailing firm will show trip destinations to drivers before they decide to accept a ride.
 "Uber India addresses trip cancellations, drivers not switching on AC")
Flipkart Pay Later doubles its user base to over 6 mn in just 7 months
Flipkart Pay Later now provides customers credit up to Rs 1 lakh, depending on the customer's credit profile
 "Flipkart Pay Later doubles its user base to over 6 mn in just 7 months")
BlissClub raises $18 mn in funding led by Eight Roads, Elevation Capital
BlissClub has seen 25X growth in just 10 months, having gone from raising a seed round in May 2021 to current Series A in less than a year
 "BlissClub raises $18 mn in funding led by Eight Roads, Elevation Capital")
Walmart's PhonePe set to acquire WealthDesk, OpenQ for about $70 mn
PhonePe to acquire WealthDesk and OpenQ for about $50 million and $20 respectively according to the sources. PhonePe has invested over $60 M on acquisitions as per the data analytics platform Tracxn
Vedantu lays off 424 employees as it expects a scarcity of capital
Citing headwinds, CEO Vamsi Krishna says capital will be scarce in upcoming quarters
 "Vedantu lays off 424 employees as it expects a scarcity of capital")
Inspired by Indian innovation, says senior Amazon executive Dave Clark
The CEO for worldwide consumer at Amazon says the country is 'very important' to his company's plans.
 "Inspired by Indian innovation, says senior Amazon executive Dave Clark")
India to become large exporter of products post-Covid: Rajeev Chandrasekhar
Minister of State for Electronics & IT sees SMBs playing a big role in this regard
 "India to become large exporter of products post-Covid: Rajeev Chandrasekhar")
Amazon launches Smart Commerce to change local stores into digital dukaans
Stores will now be able to digitise their operations, enhance in-store experience for walk-in customers, and create their own online storefront in minutes powered by Amazon
 "Amazon launches Smart Commerce to change local stores into digital dukaans")