After arrest of DKS, BJP gears up for a massive ‘Operation Lotus’ in Karnataka to kill the Opposition

Mangaluru, Jan 10: A gang of smugglers, who were planning to illegally export 4,000 kg of red sandalwood worth Rs 2 crore through New Mangalore Port, were nabbed in a joint operation by the anti-rowdy squad of Mangaluru North sub-division and sleuths of Panambur police station.

The arrested have been identified as Tabrez (36), Lohith (35), Rakesh Shetty (44), Hussain kunhimonu (45) and Farooq (45).

Commissioner of Police Dr P S Harsha said that red sandalwood worth Rs 2 crore were seized from the accused.

The other seized properties from the arrested include a Maruti Brezza, Renault Pulse, Tata Ace, two plywood boxes and seven mobile phones valued Rs 19 lakh.

Based on a tip off, the police raided a godown on the road leading to Jokatte from Baikamlady Industrial Area and seized 4,000 kg of red sanders worth  Rs 2 crore.

A case has been registered under Sections 50, 62, 80, 104 of Karnataka Forest Act and 144, 165 of Karnataka Forest Rules at the Panambur police station.

Chamarajanagar, Feb 7: Health authorities in Karnataka have constituted a mobile team of doctors to monitor villages sharing a border with Kerala districts.

Strong vigil is being maintained by the health authorities in Karnataka after three confirmed cases of Coronavirus was detected in Kerala.

Kerala Health Minister KK Shailaja on Wednesday had informed that three positive cases of Coronavirus were found in the state and other suspects were being monitored in isolation.

The virus originated in Wuhan in December and has since then spread to various parts around the world.

China has imposed quarantine and travel restrictions, affecting the movement of 56 million people in more than a dozen cities, amid fears that the transmission rate will accelerate. 

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.