Vatican rejects second appeal of Kerala nun against her expulsion from congregation

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, Jan 10: Demanding the setting up of a House Committee to probe the Mangaluru violence, former Chief Minister HD Kumaraswamy on Friday released multiple videos of the clashes that broke out during the anti-Citizenship Amendment Act protest that claimed two lives on December 19.

Janata Dal-Secular leader further demanded suspension of Police Commissioner PS Harsha and insisted that House Committee consisting of members of all the parties should be formed to probe into Mangaluru violence and said that magisterial inquiry ordered by the state government cannot be trusted.

"Constitute a House committee and produce the fact. The main culprit is the commissioner of Mangaluru, remove the officer as he is the main culprit. I am going to take this issue on the floor of the House." Kumaraswamy said during a press conference here.

Two people were killed in Mangaluru in the alleged police firing after protests against the Citizenship Amendment Act turned violent.

The Act grants Indian citizenship to refugees from Hindu, Christian, Sikh, Buddhist and Parsi communities fleeing religious persecution from Pakistan, Afghanistan, and Bangladesh who entered India on or before 31, 2014.

Thiruvananthapuram, Apr 14: Amid Covid-19 lockdown,

Keralites celebrated a low key "Vishu" ,the Malayalam new year, on Tuesday, hoping that days of plenty, prosperity and peace will return.

People woke up in the early hours to see the auspicious "Vishu kani", symbolising hope, promise and fine prospects they wish to have in the year ahead.

The ritual comprises arranging on platters auspicious articles like seasonal fruits, vegetables, flower, gold and clothes which together form the first sight when the family members wake up on the Vishu day.

Normally, Keralites dressed in their traditional attire throng temples across the state.

However, this year due to the lockdown restrictions, temple visits were given a go by.

The famed Sri Krishna temple at Guruvayur and the Lord Ayyappa shrine at Sabarimala witnesses heavy rush of devotees during the vishu day.

But pilgrims were not allowed inside and only temple officials and security personnel were present for the"Vishu kani".

Rehaman, a small time trader, said very few people have come out for vishu purchases due to the restricitons.

It is fine as it is for a good cause, while Radha, a young woman said she could not celebrate the festival.

"We have no money, no job. With whatever little we have, we are celebrating the festival", she said.

87-year-old Vilasini Nambiar, a retired college professor, said vishu has visited the state during a most bewildering time.

"It should however remind us that every mountain must have its valley, desert its oasis, every storm cloud its rainbow, every night its day.

We are prepared to believe that we will overcome this misfortune", she said.

President Ram Nath Kovind, Prime Minister, Narendra Modi, Home minister, Amit Shah, Kerala Governor, Arif Mohammed Khan and Chief Minister, Pinarayi Vijayan, were among those who greeted people on the occasion of Vishu.