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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Facebook co-founder's B Capital closes $750 mn fund for late-stage startups
It will make investments in companies specialising in technology, healthcare, climate technology
 "Facebook co-founder's B Capital closes $750 mn fund for late-stage startups")
Flipkart's quick-commerce foray: Will Zepto and Blinkit feel the pinch?
Flipkart's ecommerce advantage might not come into play in quick commerce all that quickly
 "Flipkart's quick-commerce foray: Will Zepto and Blinkit feel the pinch?")
Third Wave Coffee CEO Sushant Goel steps down; Rajat Luthra to replace him
Since its inception in 2016, Goel, along with co-founders Ayush Bathwal and Anirudh Sharma, has been successfully able to scale the company to over 100 outlets across India
 "Third Wave Coffee CEO Sushant Goel steps down; Rajat Luthra to replace him")
Jumbotail raises Rs 151 crore in series C3 equity round led by Artal Asia
Jumbotail is building AI-driven technologies to drive higher customer wallet share. The firm is leveraging its deep sourcing capabilities across FMCGs and staples and its kirana supply chain
 "Jumbotail raises Rs 151 crore in series C3 equity round led by Artal Asia")
Despite IT slowdown, high demand for GenAI courses: Simplilearn CEO
The Blackstone-backed firm, which skills and trains people online, said that the demand for GenAI courses in India increased 195 per cent year-on-year in the first quarter of 2024
 "Despite IT slowdown, high demand for GenAI courses: Simplilearn CEO")
US bankruptcy court issues ruling in favour of Byju's term loan lenders
In making its ruling, the ad hoc group stated that the Court confirmed that the transfer of funds from Byju's Alpha, and their continued concealment, likely constitutes a fraudulent conveyance
 "US bankruptcy court issues ruling in favour of Byju's term loan lenders")
Financial services firm WeRize becomes the victim of a data breach
No impact on business operations
 "Financial services firm WeRize becomes the victim of a data breach")
Funds safe, claims edtech major Byju's after US court's freeze order
In Delaware hearing, Judge rejects lenders' request for mandatory injunction, said Byju's. Instead orders a preliminary injunction, effectively seeking to maintain status quo
 "Funds safe, claims edtech major Byju's after US court's freeze order")
Staqu unveils AI tool in collaboration with UP police to nab criminals
Rai explained that this is an extension of their work on the Trinetra, which has been adopted by the UP Police Department and deployed through integration with security cameras
 "Staqu unveils AI tool in collaboration with UP police to nab criminals")
Health tech company HiLabs raises $39 million in Series B financing
The capital will support the firm's continued enhancement of the technology as well as recruitment of top-tier talent and expansion of its product teams
 "Health tech company HiLabs raises $39 million in Series B financing")
KITES Senior Care raises Rs 45 crore from Ranjan Pai's family office fund
Pai recently invested $168 million (Rs 1,400 crore) in edtech firm Byju's test-prep subsidiary AESL and was in discussion to invest about $350 million in Byju's in both equity and debt
 "KITES Senior Care raises Rs 45 crore from Ranjan Pai's family office fund")
Karnataka HC extends interim protection to Byju Raveendran till March 28
At the February 23 EGM, Byju's investors including Prosus, General Atlantic, and Peak XV voted to remove Byju Raveendran as CEO. However, a Karnataka HC order prevented its implementation
 "Karnataka HC extends interim protection to Byju Raveendran till March 28")
SoftBank-backed Meesho to roll out ESOP buyback program worth Rs 200 cr
The SoftBank-backed e-commerce firm Meesho is enabling opportunities for wealth creation for 1,700 past as well as present employees
 "SoftBank-backed Meesho to roll out ESOP buyback program worth Rs 200 cr")
Flipkart's dark-store dash for quick commerce takes the fast lane
Walmart-owned firm may set up thousands of them across major cities in next few months
 "Flipkart's dark-store dash for quick commerce takes the fast lane")
Confusion around Karnataka govt's withdrawal of e-bike taxi scheme: Rapido
Rapido pointed out that recent order issued by the state government does not mention banning Rapido or any other aggregator operating under the protection of the high court order
 "Confusion around Karnataka govt's withdrawal of e-bike taxi scheme: Rapido")
Byju's shuts all regional offices, asks 15,000 employees to work from home
The move has been in place for the past few months as part of a restructuring exercise as the struggling edtech giant faces a severe funding crunch and battles lenders, according to the sources
Planning to set up public sector unit to provide tech: Salesforce India CEO
The US-based company is looking to tap various opportunities in the government sector in areas such as postal services, education, subsidies to the citizens and healthcare services, said Bhattacharya
 "Planning to set up public sector unit to provide tech: Salesforce India CEO")
Byju's processes part of pending salaries, aims to pay balance soon
Edtech company will pay the balance once the issue's funds are available
 "Byju's processes part of pending salaries, aims to pay balance soon")
US-based Baron Capital boosts Swiggy's valuation to $12.1 billion
New valuation is above the $11 billion IPO valuation target that Swiggy is eyeing
 "US-based Baron Capital boosts Swiggy's valuation to $12.1 billion")
The Ayurveda Experience secures $27 mn in funding led by Jungle Ventures
The funds would help firm ramp up customer engagement on its platform, invest in product R&D
 "The Ayurveda Experience secures $27 mn in funding led by Jungle Ventures")
