Kanaka Nade': Action sought against Pejawar seer, Chakravarti Sulibele

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.

Mandya, Jun 28: Prime Minister Narendra Modi praised an 83-year-old farmer from Malavalli taluk in Mandya district of Karnataka for his efforts in water conservation.

While urging the people to focus on saving water, Modi, in his 'Man Ki Baat' on All India Radio quoted Kamegowda from Dasna Doddi village who single handedly dug small 16 ponds over the years in his farm land and in nearby hill while taking his animals for grazing.

"Kamegowda ji is an ordinary farmer, albeit possessing an extraordinary personality. He has achieved a personal feat that will leave anyone awestruck! Kamegowda ji, aged 80-85 takes out his animals for grazing but at the same time he has taken it upon himself to build new ponds in his area", the PM said in his Mann Ki Baat, a monthly radio address on Sunday.

To overcome problems of water scarcity in the area, Gowda started building small ponds. Thereby, he contributed a lot for water conservation, the PM said.

"... An octagenerarian like Kamegowda ji, till now, has dug 16 ponds through his hard work and the sweat of his brow. It is possible that the ponds he has constructed may not be very big but then his efforts are huge. Today, the entire area has got a new lease of life on account of these ponds," the PM said.

A little effort by us helps nature and environment quite significantly. Many of our countrymen are putting extraordinary efforts in this endeavour, the PM said. 

Kamegowda, used to take his sheep and goats to nearby hill for grazing. After finding no water to sheeps, he started digging ponds to address water scarcity. With collection of rain water, these lakes are brimming with water even during peak summer.

Thiruvananthapuram, Feb 17: Out of the total 418 samples of suspect coronavirus cases sent for testing to National Institute of Virology from Kerala, 405 have come out as negative, while the results for the rest, barring three, are awaited.

"Out of three persons in whom the disease was confirmed, two persons have been discharged. One person is stable and the repeat sample results are awaited," according to a release by the Health and Family Welfare Department of the Kerala government.

The release added that till Sunday a total of 2,276 people have been placed under surveillance, "out of which 2262 are under home isolation and 14 are admitted in designated isolation facilities."

The health condition of all symptomatic people under isolation is stable, according to the release.

The release added that the Ministry of Health and Family Welfare (Centre) has informed the Kerala government that 115 people belonging to Kerala are currently in quarantine in two camps in Delhi.

These 115 people have been tested and found negative for coronavirus and they will be allowed to travel back to Kerala on Monday evening.

The people have been requested to remain in home isolation upon their return.