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.
Page 5 - Peerzada Abrar
Simplilearn cuts Ebitda losses by 75% as FY24 revenue reaches Rs 773 crore
Enhanced consumer experience, as well as demand from corporates for onboarding new hires, drives better numbers for the digital upskilling firm
 "Simplilearn cuts Ebitda losses by 75% as FY24 revenue reaches Rs 773 crore")
India is one of our fastest growing markets: Microsoft AI CEO Suleyman
On his inaugural visit, Suleyman says AI will put knowledge at everyone's fingertips
 "India is one of our fastest growing markets: Microsoft AI CEO Suleyman")
Tier-II and Tier-III cities fuel festive season sales: ClickPost report
There has been a 49% increase in online sales during the festive season, a 10 per cent growth over the 39% witnessed in 2023, according to a report by logistics intelligence platform ClickPost
 "Tier-II and Tier-III cities fuel festive season sales: ClickPost report")
Wakefit records 50% growth in festive sale revenues across platforms
The sleep solutions firm said the trends indicate that consumer behaviour is shifting towards wellness, long-term value and preference for premium and functional products
 "Wakefit records 50% growth in festive sale revenues across platforms")
Fidelity increases IPO-bound Lenskart valuation by 12% to $5.6 billion
This year, IPO-bound Lenskart raised $200 million in secondary investment from Singapore's state-owned investment firm Temasek and Fidelity
 "Fidelity increases IPO-bound Lenskart valuation by 12% to $5.6 billion")
Marut Drones raises $6.2 million from Lok Capital in Series A funding
Marut Drones is also exploring disaster management and surveillance applications
 "Marut Drones raises $6.2 million from Lok Capital in Series A funding")
Swiggy eyes 100 mn users, each ordering 15 times a month: CEO Majety
Food delivery giant anticipates strong growth in next decade
 "Swiggy eyes 100 mn users, each ordering 15 times a month: CEO Majety")
More than 85% Amazon sale customers from non-metros: Saurabh Srivastava
Srivastava revealed that Amazon delivered over 30 million products the same day or next day (to Prime members), and customers had access to over 25,000 new product launches from top brands
 "More than 85% Amazon sale customers from non-metros: Saurabh Srivastava")
Amazon Great Indian Festival 2024 records 1.4 billion customer visits
The e-commerce firm said that more than 85 per cent customers were from non-metro cities
 "Amazon Great Indian Festival 2024 records 1.4 billion customer visits")
Ola Electric sells over 50,000 units, registers 41,605 units in Oct
With a market share of 30 per cent, the company said it continues to dominate the EV 2W segment in India
 "Ola Electric sells over 50,000 units, registers 41,605 units in Oct")
Spot AI secures $31 mn, launches Video AI Agents for enhanced surveillance
Video AI Agents transform cameras from passive observers into proactive problem solvers and can autonomously identify issues and trigger responses without the need for human intervention
 "Spot AI secures $31 mn, launches Video AI Agents for enhanced surveillance")
Persana AI raises $2.3 million to tap sales intelligence market growth
The startup aims to empower GTM (go to market) teams with tools that streamline workflows and drive growth in today's data-driven landscape.
 "Persana AI raises $2.3 million to tap sales intelligence market growth")
Meesho generates positive operating cash flow of Rs 232 cr in FY24
Company says it is India's first horizontal e-commerce platform to have free cash flow as adjusted losses reduce by 97% to 53 cr
 "Meesho generates positive operating cash flow of Rs 232 cr in FY24")
Swiggy IPO ups primary fundraise to Rs 4,499 cr, cuts secondary share sale
Food and grocery delivery company expected to announce its IPO price band on Wednesday
 "Swiggy IPO ups primary fundraise to Rs 4,499 cr, cuts secondary share sale")
Festive boost: Flipkart records 7.2 billion customer engagement visits
The e-commerce firm also witnessed a record 282 million unique visitors during the period, primarily driven by premiumisation and personalised preferences, especially in metros and Tier-2+ cities
 "Festive boost: Flipkart records 7.2 billion customer engagement visits")
EvoluteIQ secures $20 million funding to fuel growth and innovation
This funding will support EvoluteIQ's plan to enhance its AI automation platform and expand operations globally
 "EvoluteIQ secures $20 million funding to fuel growth and innovation")
Razorpay says payment gateway business grew 24% in revenue in FY24
Fintech company reports growth despite restriction on taking in new customers
 "Razorpay says payment gateway business grew 24% in revenue in FY24")
Flipkart marketplace arm revenue grows 21%, losses reduce by 41% in FY24
In FY24, Flipkart Internet generated nearly Rs 5,000 crore from advertising, up from Rs 3,324.7 crore in the previous year
 "Flipkart marketplace arm revenue grows 21%, losses reduce by 41% in FY24")
E-commerce firm Udaan raises about Rs 300 crore in debt funding round
The latest debt funding will strengthen Udaan's balance sheet, offering flexibility to invest and maintain its leadership
 "E-commerce firm Udaan raises about Rs 300 crore in debt funding round")
Rural India emerges as a goldmine for e-com companies during festive season
Despite logistical challenges, e-commerce firms are ramping up their infrastructure and technology to meet the diverse customer needs in small towns and hinterlands
 "Rural India emerges as a goldmine for e-com companies during festive season")
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