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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Income tax notices lead to stress among startups, executives and investors
The notices were served under Section 68 of the Income Tax Act. They have clubbed the investments made in the startups, along with the revenue, to calculate the tax, according to the sources
 "Income tax notices lead to stress among startups, executives and investors")
Edtech company Byju's goes ahead with cutbacks, fires 500 staffers
Sales, marketing, and teaching roles feel the biggest impact
 "Edtech company Byju's goes ahead with cutbacks, fires 500 staffers")
Byju's delays salaries for 2nd month in a row amid rights issue dispute
Cash-strapped Byju's and its investors are involved in a dispute at the National Company Law Tribunal (NCLT) over the company's $200 million rights issue
 "Byju's delays salaries for 2nd month in a row amid rights issue dispute")
Byju's gets 50% vote on rights issue, asks miffed investors to participate
Raveendran says firm's priorities remain with existing shareholders
 "Byju's gets 50% vote on rights issue, asks miffed investors to participate")
Simpl expands partnership with Zomato to enhance convenience for customers
Expansion is to address the growing number of consumers seeking checkout convenience. Simpl has recorded over 100 million checkouts during 2017-2023 on Zomato
 "Simpl expands partnership with Zomato to enhance convenience for customers")
Atoms 3.0: Accel's 6-mnth pre-seed accelerator program, unveils 8 startups
The cohort receives up to $500,000 in funding, access to perks worth more than $5 mn from venture capital firm Accel's network partners, personalised mentorship
 "Atoms 3.0: Accel's 6-mnth pre-seed accelerator program, unveils 8 startups")
NCLT refuses to stay Byju's EGM to raise capital through rights issue
According to sources at Byju's, the court was convinced by evidence submitted and arguments made by Byju's counsels, who made a case that the "only objective of the petitioners is to be restrictive"
Top 20% of Urban Company partners earn 50% more than entry-level IT jobs
According to the latest NCAER report published in August 2023, gig workers on food delivery platforms earn an average of Rs 13,581 monthly net of all costs, after an active long-shift
 "Top 20% of Urban Company partners earn 50% more than entry-level IT jobs")
69% Indian shoppers prefer deliveries with minimal packaging: Amazon study
Globally since 2015, Amazon has reduced the weight of outbound packaging per shipment by 41 per cent on average and eliminated over 2 million tons of packaging material
 "69% Indian shoppers prefer deliveries with minimal packaging: Amazon study")
Operationally profitable for two quarters: Fashion platform Myntra
Brands on Myntra have recorded strong year-on-year (YoY) growth, with the catalogue size on the platform also having grown by over 50 per cent in the last year
 "Operationally profitable for two quarters: Fashion platform Myntra")
Flipkart, Swiggy, Blinkit, Zepto witness blockbuster Holi festival sales
The report emphasizes the burgeoning adoption of e-commerce in Tier-2 and beyond cities
 "Flipkart, Swiggy, Blinkit, Zepto witness blockbuster Holi festival sales")
Amazon India revises seller fees for 2024 due to macroeconomic factors
Starting April 7, there will be changes in referral fee, closing fee and weight handling fee, besides other fee heads, for sellers on Amazon.in
 "Amazon India revises seller fees for 2024 due to macroeconomic factors")
Edtech major Byju's says now 262 tuition centres operate across India
The edtech firm says focus on quality with efficiency helps most centres turn profitable
 "Edtech major Byju's says now 262 tuition centres operate across India")
Fintech startup Yenmo secures $500,000 investment from Y Combinator
Yenmo offers a full-stack API (application programming interface) solution for other companies to integrate loans against mutual funds into their products
 "Fintech startup Yenmo secures $500,000 investment from Y Combinator")
Flipkart gives 100% bonus to employees and merit-linked payouts
The number of employees receiving increments this year will be higher than last year, according to the sources
 "Flipkart gives 100% bonus to employees and merit-linked payouts")
Ultrahuman raises $35 mn to accelerate growth, research in health space
By collating a large set of biomarkers on an integrated platform across a range of products, Ultrahuman is able to create a grand unified view of the human body
 "Ultrahuman raises $35 mn to accelerate growth, research in health space")
Pocket FM's valuation crosses $750 mn, bags $103 mn in Series D funding
The audio platform secures $103 mn in Series D funding. Funds to drive global growth, enhance content library, and advance Gen AI
 "Pocket FM's valuation crosses $750 mn, bags $103 mn in Series D funding")
Uber boosts eco-mobility, backs Indian startups with sustainovate challenge
Uber is committed to achieving net-zero emissions by 2040 and has been continuously working with governments, partners, think tanks, and others to address global sustainability challenges, the company
 "Uber boosts eco-mobility, backs Indian startups with sustainovate challenge")
Engrail Therapeutics closes oversubscribed $157 million Series B financing
Funding from the Series B round will propel the advancement of the company's pipeline through multiple stages of clinical development
 "Engrail Therapeutics closes oversubscribed $157 million Series B financing")
Deepinder Goyal launches 'Pure Veg Mode' to woo vegetarian customers
Zomato founder and chief executive officer Deepinder Goyal on Tuesday announced the launch of a 'Pure Veg Mode' along with a 'Pure Veg Fleet'
 "Deepinder Goyal launches 'Pure Veg Mode' to woo vegetarian customers")
