 "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 their 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, where he covered the entrepreneurship ecosystem, start-ups, 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 their 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, where he covered the entrepreneurship ecosystem, start-ups, 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.
Page 55 - Peerzada Abrar/workspace/business Standard Web/video
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")
E-commerce firm Meesho recruits 150 during campus hiring, to take in more
Recruitments reflect 'robust road map for 2024', says Meesho, which is an e-commerce firm backed by SoftBank
 "E-commerce firm Meesho recruits 150 during campus hiring, to take in more")
Tech Trends 2024: Culturally aware GenAI, femtech, cybersecurity, deepfakes
Industry leaders say technology will continue to change our lives in the new year and the biggest theme that is expected to emerge is the application of generative AI in different sectors
 "Tech Trends 2024: Culturally aware GenAI, femtech, cybersecurity, deepfakes")
Food, quick delivery platforms clock all-time high orders on New Year's Eve
While Bengaluru, New Delhi, and Mumbai saw the highest number of orders among the metros, cities such as Jaipur, Chandigarh, and Ahmedabad too witnessed significant demand
 "Food, quick delivery platforms clock all-time high orders on New Year's Eve")
Meesho turns profitable with losses halved to Rs 1,675 cr in FY23
The company's revenue grew 77 per cent to Rs 5,735 core
 "Meesho turns profitable with losses halved to Rs 1,675 cr in FY23")
SoftBank set to offload over 16% stake as part of OFS in FirstCry's IPO
PI Opportunities Fund-1 is expected to offload over 36 per cent stake and Mahindra & Mahindra would sell over 5 per cent stake as part of the IPO
 "SoftBank set to offload over 16% stake as part of OFS in FirstCry's IPO")
FirstCry's parent firm files DRHP; to raise Rs 1,816 crore via fresh issue
The Supam Maheshwari-led company proposes to utilise net proceeds from the offer towards funding the expenditure for setting up new modern stores, a warehouse and lease payments
 "FirstCry's parent firm files DRHP; to raise Rs 1,816 crore via fresh issue")
GenAI, fintech, green tech, EVs, SaaS, hot bets for investors in 2024
In India, GenAI startup ecosystem is unfolding with remarkable speed, signalling a new era of technological advancement and investment opportunities, according to top inventors