Hindus should carry weapons instead of mobiles; those who question RSS chief are traitors: Swamiji

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.

Kannur, Jun 21: Customs sleuths on Sunday seized 432 grams of gold worth around Rs 20 lakh from a passenger who arrived at Kannur International Airport from Dubai in Fly Dubai flight, scheduled under Vande Bharat Mission.

Customs Assistant Commissioner E Vikas-led team seized the smuggled gold from the passenger Usman of Malappuram district and detained him, sources said.

The seized gold was kept in his inner-wear.

Bengaluru, Apr 8: In another incident of health staff involved in coronavirus containment facing trouble, two ASHA workers were allegedly manhandled at Kudachi in Belagavi district in Karnataka on Tuesday while undertaking a survey following detection of four COVID-19 cases with Tablighi links in the area, police said.

The district authorities have intensified door-to-door survey in Kudachi after four people who had attended the Tablighi Jamat religious conference in New Delhi last month tested positive for coronavirus in nearby Raibagh.

“Today when two ASHA workers went to Kudachi, some miscreants snatched away their phones. We are investigating whether they were beaten up also,” a police officer investigating the matter told PTI.

A few days ago, four ASHA workers here were manhandled when they went for a door-to-door survey and police have arrested five people from a minority community. They have been remanded to judicial custody by a court.

Former prime minister H D Deve Gowda had on Monday condemned incidents of attacks on doctors and health department workers and sought protection for them.