 "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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Swiggy Instamart scales up tech to deliver 1 mn roses in Valentine's week
Other products which are witnessing huge demand, especially during Valentine's week on Instamart include chocolates, teddy bears, greeting cards and curated gift boxes
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US heavy bombers at Aero India 2023 mark strategic partnership with India
Supersonic heavy bomber B-1B Lancer is capable of carrying out missions worldwide
 "US heavy bombers at Aero India 2023 mark strategic partnership with India")
PhonePe raises $100 mn in additional funding at $12 bn valuation
This follows $350 million in capital from General Atlantic as a part of an ongoing fundraise with a target of raising up to $1 billion in all
 "PhonePe raises $100 mn in additional funding at $12 bn valuation")
Over 25% of unicorns in India have been set up by repeat founders: Report
This expertise is what helped India become the third nation to have 100 unicorns, including the 24 that emerged in 2022
 "Over 25% of unicorns in India have been set up by repeat founders: Report")
Apply for Maharashtra licence in 3 weeks, Supreme Court tells Uber
State govt asked to frame policy; officials say all cab aggregators will need licences
 "Apply for Maharashtra licence in 3 weeks, Supreme Court tells Uber")
India, US strengthening ties on critical technologies: Ambassador Jones
Jones, who heads the US delegation at Aero India event said the two nations are working to address climate change; improve global health, prepare for new pandemics among other things
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Top VC firms reduce investments in India amid macroeconomic uncertainty
With late-stage funding rounds becoming tougher, they are focusing more on due diligence, profitability path, governance and early entry into companies at lower valuations
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Ola Electric unveils 5 electric motorcycles, launch planned next year
Ola said the success of the S1 Pro and S1 have cemented its market leadership
 "Ola Electric unveils 5 electric motorcycles, launch planned next year")
Zypp Electric raises $25 million in Series B funding round led by Gogoro
Zypp plans to deploy 200,000 electric scooters and expand its footprint to 30 cities
 "Zypp Electric raises $25 million in Series B funding round led by Gogoro")
PhonePe launches cross-border UPI payments service, says it's India's first
Users can activate UPI-linked bank account for the international service at the merchant location, or before that
Entropik raises $25 mn in Series B funding led by Bessemer, SIG Venture
The funding led by Bessemer Venture Partners and SIG Venture Capital would help Entropik to expand across the US, Europe and Asian Markets
 "Entropik raises $25 mn in Series B funding led by Bessemer, SIG Venture")
Start-up founders expect fundraising to be tougher in 2023: Report
Only 38% of them expect higher pace of hiring, mostly in early-stage companies
 "Start-up founders expect fundraising to be tougher in 2023: Report")
Budget aligned towards a self-reliant $5 trn economy by 2027: Flipkart CEO
Krishnamurthy said the focus on MSMEs, infrastructure development, and personal tax announcements pave the way for increased consumer affordability and consumption
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Amazon India offers 50% referral fee waiver for e-commerce businesses
Businesses pay Amazon referral fees to for facilitating sales on the online marketplace
 "Amazon India offers 50% referral fee waiver for e-commerce businesses")
India bucked slowdown to emerge as global M&A hotspot in 2022: Report
In the country's fourth straight year of a steady increase in strategic M&A, deal volumes hit record levels and deal value rose by 139% in 2022
 "India bucked slowdown to emerge as global M&A hotspot in 2022: Report")
Enzene Biosciences raises $50 million, aims to expand into global markets
Enzene said it has built a highly experienced 400-person team under the leadership of Dr. Himanshu Gadgil, CEO at Enzene Biosciences Ltd
 "Enzene Biosciences raises $50 million, aims to expand into global markets")
Ankit Nagori-led Curefoods aims to expand cloud kitchens across India
Curefoods is expecting to reach annual recurring revenue (ARR) of Rs 1000 crore ($122 million) by the end of this year and it aims to be ready for an IPO in 18 months
 "Ankit Nagori-led Curefoods aims to expand cloud kitchens across India")
Cars24 plans 500 new hires across verticals in next three months
Recruitment is for both tech and non-tech roles; firm plans to scale up services in smaller towns where it is seeing an rising demand for pre-owned vehicles
 "Cars24 plans 500 new hires across verticals in next three months")
Two co-founders at Google and Twitter-backed Sharechat step down
This comes a week after Mohalla Tech Pvt Ltd, the parent company of homegrown video-sharing platforms ShareChat and Moj, laid off 20 per cent of its workforce, comprising around 500 employees
 "Two co-founders at Google and Twitter-backed Sharechat step down")
PhonePe investors had to pay Rs 8,000 cr taxes to shift base to India: CEO
Sameer Nigam says move worked due to presence of long-term investors such as Walmart, Tencent and several balance sheet investors who can take a multi-decade view
 "PhonePe investors had to pay Rs 8,000 cr taxes to shift base to India: CEO")