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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PayU launches 'PayU Token Hub' to help businesses comply with RBI norms
Solution has been built by PayU and Wibmo, a PayU-owned full stack global PayTech firm, in partnership with major card networks such as Visa and MasterCard, and top issuing banks
 "PayU launches 'PayU Token Hub' to help businesses comply with RBI norms")
Drip Capital raises $175 mn to enter new markets like South Asia, LatAm
Funds raised include $40 mn in Series C and $135 mn in warehouse debt. With this, Drip Capital has raised $525 mn in all via equity and debt
 "Drip Capital raises $175 mn to enter new markets like South Asia, LatAm")
Flipkart builds Snap's Camera Kit into its app to offer users AR experience
Snap's AR technology coupled with Flipkart's understanding of its 350 million customer base will help build an immersive e-commerce experience for Indian users
 "Flipkart builds Snap's Camera Kit into its app to offer users AR experience")
We are poised at the cusp of tremendous opportunity: Cisco's Chittilapilly
Cisco's president for India and Saarc sees big scope in the digitisation of multiple industry sectors that have been poor adopters of technology
 "We are poised at the cusp of tremendous opportunity: Cisco's Chittilapilly")
Edtech giant Byju's appoints ex-Tata exec Mukut Deepak as Head of Business
Deepak, who was earlier Chief Business Development Officer at Tata Sky, will be responsible for expanding and leading the flagship business for the class 4 to 10 segment
 "Edtech giant Byju's appoints ex-Tata exec Mukut Deepak as Head of Business")
SaaS Labs raises $17 mn to expand customer base, hire team members globally
The company has been bootstrapped up until this point and will use the funding to expand its customer base, hire people, and release new products and services
 "SaaS Labs raises $17 mn to expand customer base, hire team members globally")
These teams worked remotely to help Flipkart pull off Big Billion Days sale
RedSeer says Flipkart emerged as the leader during festive sales with an impressive 64% market share. It competes with Amazon, Reliance's JioMart and Tata CLiQ in this space
 "These teams worked remotely to help Flipkart pull off Big Billion Days sale")
Pine Labs enters online payments with three products under one platform
Firm says its 'Plural' platform is built to disrupt payments gateway space, make offline-to-online shift easier for merchant base and other online businesses
 "Pine Labs enters online payments with three products under one platform")
Social commerce firm Meesho sees 750% growth in users during festive sale
Nearly 60 per cent of the total demand was driven by tier-4+ markets, including remote locations.
 "Social commerce firm Meesho sees 750% growth in users during festive sale")
PhonePe's revenue grew 85% to Rs 690 cr in FY21, losses drop by 44%
The 85% YoY revenue growth was due to a rise in transactions. PhonePe has a lion's share of the volumes on United Payment Interface and Bharat Bill Payment System
 "PhonePe's revenue grew 85% to Rs 690 cr in FY21, losses drop by 44%")
Smartphones worth Rs 68 cr sold every hour on e-comm platforms: Redseer
RedSeer claimed that it has been seen that Flipkart Group emerged as the leader during the festive sales with an impressive 64 per cent market share
 "Smartphones worth Rs 68 cr sold every hour on e-comm platforms: Redseer")
Aiming for $25 bn annual payments processed on Plural: Pine Labs CEO
Company says it now plans to disrupt the payments space through a suite of online payment products focused on speed, security, and user experience
Toch.ai raises $11.75 mn to scale up tech infra, expand into global markets
The $224 bn digital video content and advertising industry has long been plagued with time-consuming, manual processes and Toch.ai is addressing that problem using technology
 "Toch.ai raises $11.75 mn to scale up tech infra, expand into global markets")
Beauty and personal care co Plum to open 50 offline stores in India by 2023
The company has a three million-strong customer base and serves 300,000 customers a month; opens its first-ever exclusive store at R-City Mall in Mumbai
 "Beauty and personal care co Plum to open 50 offline stores in India by 2023")
VC firm Antler raises over $300 mn, expands focus to invest up to Series C
VC firm Antler fund raising: Primary focus to remain pre-seed stage funding as it seeks to invest in the world's "most exceptional people"
 "VC firm Antler raises over $300 mn, expands focus to invest up to Series C")
Flipkart Wholesale sees 70% e-commerce adoption by kiranas at festive sale
Over 500,000 kiranas across 10,000 pin codes in 24 states and union territories shopped on the platform and through the Flipkart Wholesale Best Price stores
Myntra concludes its festive sale with record 52 mn visitors, 8 mn orders
Held between October 3-10, Myntra's event had 7.6 billion homepage impressions. There were 9,000 orders per minute at peak; 45% of demand came from tier-2 and 3 cities
 "Myntra concludes its festive sale with record 52 mn visitors, 8 mn orders")
Google, Temasek back Indian neo-banking firm Open with $100 mn investment
Open plans to use the funds to strengthen its leadership in SME neo-banking space. taking the total SME base from 2 million at present to 5 million in India and expand its services to South East Asia
 "Google, Temasek back Indian neo-banking firm Open with $100 mn investment")
Virtual events platform Hubilo raises $125 mn for global expansion
The investment signals a change in ways people engage and share experiences at a time when uncertainty about Covid-19 has seen cancelled events and delayed a return to traditional office environment
 "Virtual events platform Hubilo raises $125 mn for global expansion")
M2P Fintech raises $35 mn from Tiger Global to expand API platform globally
M2P's platform powers some of the leading banks, fintechs, and consumer internet companies across Asia becoming the leading fintech enabler in the region
