 "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 64 - Peerzada Abrar/workspace/business Standard Web/video
US retailer Walmart pays $3.5 billion to increase stake in Flipkart
Flipkart co-founder Binny Bansal, Accel and Tiger Global Management have fully exited the e-commerce firm by selling their stakes to Walmart
 "US retailer Walmart pays $3.5 billion to increase stake in Flipkart")
US-based investor Fidelity increases Meesho's valuation by 14.3%
With Fidelity's latest markup, Meesho is now valued at about $5.04 billion
 "US-based investor Fidelity increases Meesho's valuation by 14.3%")
Ola Electric registers over 400% growth in Aug; gears up for festive season
Ola which competes with players such as Ather Energy, Okinawa, Hero Electric and TVS Motor company said it has maintained a market share of about 30 per cent during August
 "Ola Electric registers over 400% growth in Aug; gears up for festive season")
PhonePe takes on Zerodha, Upstox, Groww, unveils stock broking platform
Walmart-owned fintech firm said what differentiates its stock broking platform 'Share.Market' is that it elevates discount broking by combining research, convenience and technology
 "PhonePe takes on Zerodha, Upstox, Groww, unveils stock broking platform")
Broking platform is completion of financial services strategy: PhonePe CTO
Chari is also an active stock investor and has been using various stock-broking apps recently to learn more about the stock market and competition
 "Broking platform is completion of financial services strategy: PhonePe CTO")
Uber completes 10 years in India, says drivers earned Rs 50,000 crore
The service now offers options like car, auto, moto, and bus rides via the app, available in 125 cities across India
 "Uber completes 10 years in India, says drivers earned Rs 50,000 crore")
Chandrayaan-3 rover confirms the presence of Sulphur in lunar surface
LIBS is a scientific technique that analyses the composition of materials by exposing them to intense laser pulses
 "Chandrayaan-3 rover confirms the presence of Sulphur in lunar surface")
Edtech giant Byju's CBO Prathyusha Agarwal, two senior executives quit
These exits come at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital
 "Edtech giant Byju's CBO Prathyusha Agarwal, two senior executives quit")
Baron Capital nearly halves Byju's valuation, marks up Swiggy, Pine Labs
Byju's was last valued at $22 billion when it raised $250 million from Qatar Investment Authority in October last year
 "Baron Capital nearly halves Byju's valuation, marks up Swiggy, Pine Labs")
Ajjree Engineering to supply critical components for Isro's space missions
Ajjree Engineering Industries has set up a manufacturing unit at Jigani Industrial Area, Bengaluru, to produce space-qualified heat pipes
 "Ajjree Engineering to supply critical components for Isro's space missions")
Amazon now has over 6,000 electric vehicles in its India delivery fleet
Amazon is among many e-commerce firms and consumer goods manufacturers, that are scaling up EV deployment efforts to reduce costs and meet carbon emission targets
 "Amazon now has over 6,000 electric vehicles in its India delivery fleet")
Antfin likely to sell over 3% stake in Paytm via block deal on August 25
Deal is said to be valued at around $234 million
 "Antfin likely to sell over 3% stake in Paytm via block deal on August 25")
Alternate financing poised to capitalise on $570 bn SME credit opportunity
India is home to 64 million micro, small and medium enterprises (MSMEs), contributing 30 per cent of the nation's GDP
 "Alternate financing poised to capitalise on $570 bn SME credit opportunity")
Designed key aspects of Chandrayaan 3 mission: Tata Consulting Engineers
Chandrayaan-3 successfully executed a soft landing on the moon on August 23, 2023, making India the fourth nation in the world to achieve a successful lunar landing
 "Designed key aspects of Chandrayaan 3 mission: Tata Consulting Engineers")
Uber appoints Arnab Kumar as director of biz development for India, SA
Kumar had previously also served as program director at government think tank NITI Aayog where he contributed to the development of emerging technology initiatives including Aarogya Setu
 "Uber appoints Arnab Kumar as director of biz development for India, SA")
Funding spring for startups may return in next 12 months, say analysts
The India tech startup ecosystem witnessed its highest funding of $43.5 bn in 2021 and after this, the funding started to witness a downfall and there is no sign of improvement in the funding to date,
 "Funding spring for startups may return in next 12 months, say analysts")
Hotels, buses would contribute more than half of our biz: Cleartrip CEO
The Flipkart-owned travel tech firm said that categories such as flights, hotels and buses together are an opportunity worth $80 billion
 "Hotels, buses would contribute more than half of our biz: Cleartrip CEO")
Expect to hit full-year profitability in FY24: Practo CEO Shashank ND
The healthcare technology and services firm expects to grow at 100% y-o-y delivering about Rs 400 cr in revenue in FY24 and achieving positive cash flow and a full profitable year
 "Expect to hit full-year profitability in FY24: Practo CEO Shashank ND")
Byju's top executive Cherian Thomas quits, joins Impending Inc as CEO
Thomas played an integral part in setting up the US operations at edtech giant Byju's and was also responsible for spearheading the business of Byju's owned educational gaming firm Osmo as its CEO
 "Byju's top executive Cherian Thomas quits, joins Impending Inc as CEO")
Urban Company's FY23 loss reduces to Rs 308 cr from Rs 514 cr in FY22
The home services marketplace said that its revenue from operations grew 45 % year-over-year from Rs 438 crore in FY22 to Rs 637 crore in FY23
 "Urban Company's FY23 loss reduces to Rs 308 cr from Rs 514 cr in FY22")