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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Corporate India on overdrive to celebrate Ram Mandir inauguration
Companies rushing to do their bit and be a part of mega celebrations
 "Corporate India on overdrive to celebrate Ram Mandir inauguration")
PhonePe sells over 9 million insurance policies since September 2021
The Walmart-owned fintech firm said it has contributed to over 65% growth for two-wheeler digital Insurance in India
 "PhonePe sells over 9 million insurance policies since September 2021")
DMI group acquires BNPL startup ZestMoney in a distress sale deal
The acquisition comes more than a month after Bengaluru-based ZestMoney, shut down amid an unsuccessful attempt to revive its business under new management and regulatory uncertainty
 "DMI group acquires BNPL startup ZestMoney in a distress sale deal")
Byju's vs BCCI: Edtech wants arbitrator to decide Rs 158 crore dispute
The firm claimed before the NCLT that it is in talks with the BCCI to settle the payment dispute. However, the BCCI reportedly denied and told the tribunal that no negotiations were underway
 "Byju's vs BCCI: Edtech wants arbitrator to decide Rs 158 crore dispute")
Electric 2W manufacturer Ather Energy to launch family scooter 'Diesel'
The Ola rival's new scooter is slated to be unveiled in mid-2024
 "Electric 2W manufacturer Ather Energy to launch family scooter 'Diesel'")
SoftBank fully exits Policybazaar parent, collects $650 mn in returns
SoftBank had invested about $200 million in PB Fintech. In Dec 2023, Softbank's arm SVF Python II (Cayman) divested a 2.5 per cent stake in Policybazaar's parent firm PB Fintech for Rs 914 crore
 "SoftBank fully exits Policybazaar parent, collects $650 mn in returns")
Amazon utilises water, air, rail for faster delivery of packages in India
Starting with one fulfillment centre in 2013, Amazon has also built a nationwide infrastructure and tied up with organisations like India Post and the Indian Railways
 "Amazon utilises water, air, rail for faster delivery of packages in India")
Udaan's valuation shrinks by 43.5% to $1.7 billion in Series E round
Last year, Udaan raised $350 million in convertible notes and debt from shareholders and bondholders, with no change in valuation
 "Udaan's valuation shrinks by 43.5% to $1.7 billion in Series E round")
Byju's-owned Aakash Educational's FY22 net up 82% at Rs 79.5 crore
The company's net profit increased 82.2 per cent year-on-year (Y-oY) to Rs 79.5 crore in FY22
 "Byju's-owned Aakash Educational's FY22 net up 82% at Rs 79.5 crore")
Flipkart eyes profitability ahead of IPO; looks to go public in 1 -2 years
Flipkart Internet, the marketplace arm of the e-commerce giant, recently reported a 42 per cent growth in operating revenue for FY23 at Rs 14,845 crore
 "Flipkart eyes profitability ahead of IPO; looks to go public in 1 -2 years")
US investor BlackRock slashes Byju's valuation by 95% to $1 billion
In November 2023, Netherlands-based tech investor Prosus NV marked down Byju's valuation to under $3 billion
 "US investor BlackRock slashes Byju's valuation by 95% to $1 billion")
6.5 mn online food delivery orders on New Year's Eve 2023: RedSeer
The gross orders made during the day were a record number of 6.5 million, which is 18 per cent higher in comparison to NYE22
 "6.5 mn online food delivery orders on New Year's Eve 2023: RedSeer")
DealShare elevates Kamaldeep Singh as CEO, third cofounder Medda quits
DealShare emphasized that it remains sufficiently well-capitalized and enjoys strong support from its board and investors
 "DealShare elevates Kamaldeep Singh as CEO, third cofounder Medda quits")
Auto-tech solutions firm CarDekho Group expects 60% growth in 2024
"After maintaining a growth rate of over 60 per cent in the last three years, the Group projects similar favourable growth in the upcoming year," said the company
 "Auto-tech solutions firm CarDekho Group expects 60% growth in 2024")
Ola's parent ANI Technologies posts Rs 2,800 crore revenue in FY23
The firm also has cut down its losses by nearly 50 per cent to Rs 772 crore during FY23 compared to Rs 1,522 crore in FY22, according to media platform Entrackr
 "Ola's parent ANI Technologies posts Rs 2,800 crore revenue in FY23")
2024 expected to be year of IPO boom led by new-age firms, say experts
Experts said a combination of various factors including rise of tech firms, investor confidence, a resilient economy and a supportive regulatory environment are propelling growth of India's IPO market
 "2024 expected to be year of IPO boom led by new-age firms, say experts")
Backed by Jio Platforms, ZestMoney founders launch new venture SwiffyLabs
The goal of their new venture is to help financial institutions launch new-age products and leverage AI and Digital Public Infrastructure (DPI)
 "Backed by Jio Platforms, ZestMoney founders launch new venture SwiffyLabs")
PhonePe appoints Ritesh Pai to lead fintech firm's global expansion plans
Pai is a seasoned digital payments sector leader with a proven track record of launching innovative solutions and structuring strategic business partnerships globally
 "PhonePe appoints Ritesh Pai to lead fintech firm's global expansion plans")
Flipkart forms strategic partnership with digit asset company Fireblocks
'India is fast emerging as the global hub for innovation in Web3,' said Ravi Krishnan, Head of Flipkart Labs
 "Flipkart forms strategic partnership with digit asset company Fireblocks")
IT industry veteran C P Gurnani joins upGrad's Board of Directors
Focus on global growth as independent director
 "IT industry veteran C P Gurnani joins upGrad's Board of Directors")
