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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.

Bengaluru, Apr 18: The Indian Council of Medical Research has approved 16 laboratories, comprising 11 government and five private laboratories in Karnataka, for testing the samples of COVID-19 suspected cases, the state government said on Saturday.

Meetings and negotiations were held with some private laboratories for conducting COVID-19 sample testing, additional chief secretary (health and family welfare) Jawaid Akhtar said in a circular.

"Based on the negotiations, the cost per test has been fixed at Rs 2,250," the circular read.

These private labs have to abide by the conditions laid down by the state and union governments, it added.

New Delhi, Feb 27: An Indian Air Force aircraft on Thursday evacuated 76 Indians and 36 foreign nationals from the coronavirus-hit Chinese city of Wuhan.

The C-17 Globemaster III transport aircraft was sent to Wuhan on Wednesday and it carried 15 tonnes of medical supplies for coronavirus-affected people in China.

On its return, the aircraft brought back 112 people, including 23 citizens from Bangladesh, six from China, two each from Myanmar and the Maldives and one each from South Africa, the US and Madagascar.

Earlier, India had evacuated around 650 Indians from Wuhan in two Air India flights.

“In all 723 Indian nationals and 43 foreign nationals have been evacuated from Wuhan, China, in these three flights,” the Ministry of External Affairs (MEA) said.

On the medical supplies delivered by India to China, the MEA said they would help augment the country’s efforts to control the coronavirus outbreak which had been declared as a public health emergency by the World Health Organisation.

“The assistance is also a mark of friendship and solidarity from the people of India towards the people of China as the two countries also celebrate 70th anniversary of establishment of diplomatic relations this year,” it said.