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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Byju's CFO Ajay Goel returns to Vedanta Ltd to oversee restructuring
The development comes at a time when the firm was to present its audited financials for FY22 in the second week of October
 "Byju's CFO Ajay Goel returns to Vedanta Ltd to oversee restructuring")
Cars24 reports revenue of Rs 5,535 cr in FY23, 8% increase from FY22
The company reported profit before tax (loss) of Rs 467.8 crore in FY23 compared to Rs 1093.1 crore in FY22
 "Cars24 reports revenue of Rs 5,535 cr in FY23, 8% increase from FY22")
PhonePe scales up its shopping app to compete with large e-commerce firms
Pincode offers consumers the opportunity to browse and order directly from their favourite local shops and restaurants
 "PhonePe scales up its shopping app to compete with large e-commerce firms")
Ola Electric in 'giga' drive: Rs 3,200 crore to fund its EV business
The funds raised are expected to create an interim event and pave the way for an initial public offering (IPO), which may be in the range of $800 million to $1 billion
 "Ola Electric in 'giga' drive: Rs 3,200 crore to fund its EV business")
Honasa Consumer IPO to open on Oct 31; sets price band at Rs 308-324/share
The company said it is on the cusp of an increase in profitability trajectory with business model efficiency and operating leverage setting in
 "Honasa Consumer IPO to open on Oct 31; sets price band at Rs 308-324/share")
PayMate India achieves TPV of Rs 84,519 cr, 8 fold increase in FY23 profit
"During the last financial year, we focused on operational efficiency and driving growth," said Ajay Adiseshan, founder and CEO of PayMate
 "PayMate India achieves TPV of Rs 84,519 cr, 8 fold increase in FY23 profit")
MS Dhoni-backed drone startup Garuda Aerospace raises funding of Rs 25 cr
"This fresh capital infusion will play a crucial role in accelerating our growth and enhancing our capabilities to meet the escalating market demand," said Agnishwar Jayaprakash
 "MS Dhoni-backed drone startup Garuda Aerospace raises funding of Rs 25 cr")
E-commerce firm Flipkart loss widens 45% to Rs 4,891 crore in FY23
The company's total expenses for the fiscal were reported as Rs 60,858 crore, an increase of 11.5 per cent from Rs 54,580 crore in the last fiscal
 "E-commerce firm Flipkart loss widens 45% to Rs 4,891 crore in FY23")
Week 1 of festival season sale saw Rs 47,000 crore GMV, says Redseer
Redseer claimed that Flipkart Group, continues to assert its leadership in Week 1 of the 2023 Festive Season sale
 "Week 1 of festival season sale saw Rs 47,000 crore GMV, says Redseer")
VerSe's revenue grew by 57% to Rs 1,809 cr; burn reduced by 34% in FY23
Its content platform Dailyhunt clocked a revenue of over Rs 1,200 crore and was Ebitda positive in FY23, with the financial year exiting at 10 per cent Ebitda
 "VerSe's revenue grew by 57% to Rs 1,809 cr; burn reduced by 34% in FY23")
Manipal Group chairman Ranjan Pai in talks to invest $350 mn in Byju's
The capital from Pai is expected to help Byju's release the pledge on shares of Aakash, which were offered as collateral for the Davidson Kempner loan
 "Manipal Group chairman Ranjan Pai in talks to invest $350 mn in Byju's")
Myntra's Big Fashion Festival sale registers 460 mn customer visits
Some of the leading metros driving demand were Bengaluru, New Delhi, Mumbai and Hyderabad, among others
 "Myntra's Big Fashion Festival sale registers 460 mn customer visits")
Rebel Foods' EatSure partners with railways to provide food on trains
Customers can order food from multiple restaurants and get it delivered to their seats using their PNR (passenger name record) numbers while travelling on the Indian Railway Network
 "Rebel Foods' EatSure partners with railways to provide food on trains")
PhonePe records revenue of Rs 2,914 crore in FY23, marks 77% jump
The Walmart-owned fintech firm said this growth is led primarily by its focus on market expansion and leadership in the digital payments market.
 "PhonePe records revenue of Rs 2,914 crore in FY23, marks 77% jump")
E-commerce firm Meesho's CXO for business Utkrishta Kumar moves on
Megha Agarwal, the current CXO for growth at Meesho, will take the mantle from Kumar and be the new CXO for business and Nilesh Gupta will take on the role of general manager for user growth
 "E-commerce firm Meesho's CXO for business Utkrishta Kumar moves on")
Meesho sees record 16 mn new app installs during Mega Blockbuster sale
With 1.2 billion customer visits, categories such as home and kitchen, fashion as well as beauty and personal care garnered more than 72 orders per second
 "Meesho sees record 16 mn new app installs during Mega Blockbuster sale")
AI startup Leucine gets $7 mn funding from Ecolab Inc, angel investors
Leucine's platform can be rolled out in as little as eight weeks, thanks to its proprietary AI-enabled digital process builder
 "AI startup Leucine gets $7 mn funding from Ecolab Inc, angel investors")
Record 1.4 bn visits during 'The Big Billion Days' festive sales: Flipkart
Choices in smartphones, laptops, tablets and home appliances indicate a strong premiumisation trend across India this year, said Flipkart
 "Record 1.4 bn visits during 'The Big Billion Days' festive sales: Flipkart")
Expanding our grocery, fulfilment centres in 12 months: Flipkart's Badri
50% customers will see same/next-day deliveries this festival season: Flipkart's Hemant Badri
 "Expanding our grocery, fulfilment centres in 12 months: Flipkart's Badri")
IVCA partners with ISB for training programme for PE/VC fund managers
One common strategy adopted by private equity and venture capital firms to protect their investment is to nominate a director on the board of a start-up company
 "IVCA partners with ISB for training programme for PE/VC fund managers")
