 "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.
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IBM expanding in tier-2, tier-3 locations in the country: IBM India MD
Amidst global economic uncertainty, tech giant IBM isn't seeing any sign of a slowdown in India, said Sandip Patel, managing director, IBM India
 "IBM expanding in tier-2, tier-3 locations in the country: IBM India MD")
Builder.ai gets $250 mn from Qatar Investment Authority, valuation up 1.8x
The funding will fuel the company's innovation pipeline allowing further investments in talent, partnerships, and technology
 "Builder.ai gets $250 mn from Qatar Investment Authority, valuation up 1.8x")
Public transport tech firm Chalo raises $45 million, to expand globally
The funding would help the firm to expand its presence in international markets after its successful entry into South-East Asia
 "Public transport tech firm Chalo raises $45 million, to expand globally")
PhonePe raises another $100 mn from General Atlantic as part of $1 bn plan
The company has raised a total of $850 million from several global investors, including $550 million from General Atlantic alone
 "PhonePe raises another $100 mn from General Atlantic as part of $1 bn plan")
Amazon Fresh enters over 60 Indian cities with expanded list of groceries
The e-commerce firm would offer free shipping, or free delivery on all orders above Rs 249
 "Amazon Fresh enters over 60 Indian cities with expanded list of groceries")
Proposed angel tax norms: Start-ups may get a funding boost, say top VCs
They said the proposed norms aim to expand valuation methodologies and eliminate price differentials between resident and non-resident investors
 "Proposed angel tax norms: Start-ups may get a funding boost, say top VCs")
Delhivery to make a strategic investment in retail tech firm Vinculum
Through this investment, the two companies will build a complete integrated stack to address the entire range of post-purchase needs of a D2C brand
 "Delhivery to make a strategic investment in retail tech firm Vinculum")
Unacademy skips cash appraisal, speeds up ESOP vesting period by a year
Move to skip cash appraisals driven by firm's goal to achieve at least four quarters of profitability ahead of IPO
 "Unacademy skips cash appraisal, speeds up ESOP vesting period by a year")
Litigants' claims in US court over loan to entity 'bewildering': Byju's
Edtech giant says creditors claim about hiding $500 million 'entirely incorrect'
 "Litigants' claims in US court over loan to entity 'bewildering': Byju's")
Flipkart's double-digit growth helps Walmart sales jump 13% at $26.8 bn
Walmart-owned fintech firm PhonePe saw its annualised total payments volume cross $1 trillion in Q1
 "Flipkart's double-digit growth helps Walmart sales jump 13% at $26.8 bn")
Swiggy's food delivery business turned profitable in March: CEO Majety
Rare for global food delivery platforms to achieve profitability in less than 9 years, he says
 "Swiggy's food delivery business turned profitable in March: CEO Majety")
Walmart-owned Flipkart sees two top-level exits, both after eight years
Early this year, Flipkart told staff it won't be handing out increments to senior leadership in a 'difficult decision' that was expected to impact 4,500 personnel
 "Walmart-owned Flipkart sees two top-level exits, both after eight years")
Ronnie Screwvala-led edtech unicorn upGrad records 10 mn enrolled learners
upGrad is evolving to become Asia's largest integrated learning, skilling, and workforce development and placement company
 "Ronnie Screwvala-led edtech unicorn upGrad records 10 mn enrolled learners")
US investor Baron Capital slashes Swiggy's valuation by 34% to $7.1 bn
In January last year, Swiggy raised $700 million in a funding round that was led by Invesco and saw participation from a host of investors including Baron Capital Group
 "US investor Baron Capital slashes Swiggy's valuation by 34% to $7.1 bn")
ZestMoney sets up new leadership team, a day after founders resign
ZestMoney's founders have resigned, several weeks after fintech giant PhonePe decided to halt its proposed acquisition of the buy now, pay later (BNPL) platform
 "ZestMoney sets up new leadership team, a day after founders resign")
Hike in Amazon seller fee likely to reduce discounts for customers
Other e-comm players such as Flipkart, JioMart, and BigBasket may follow suit
 "Hike in Amazon seller fee likely to reduce discounts for customers")
ZestMoney founders resign weeks after PhonePe calls off to acquisition
In April, ZestMoney laid off 100 employees, or about 20 per cent of its workforce
Amazon's venture fund leads Rs 110 crore in Indian innerwear maker XYXX
XYXX, a leading men's premium innerwear and lifestyle brand would use the funding to expand its business
 "Amazon's venture fund leads Rs 110 crore in Indian innerwear maker XYXX")
Outgoing Puma India chief Abhishek Ganguly's new venture raises Rs 430 cr
Agilitas Sports will be a solutions platform for sportswear and athleisure
 "Outgoing Puma India chief Abhishek Ganguly's new venture raises Rs 430 cr")
Apax Funds to buy stake in travel tech firm IBS Software from Blackstone
To acquire Blackstone's minority stake in the software-as-a-service solutions provider
 "Apax Funds to buy stake in travel tech firm IBS Software from Blackstone")