Implement loan waive in transparent way: CM Kumaraswamy

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, May 5: A 62-year-old woman from Vijayapura succumbed to coronavirus infection on Tuesday, taking the COVID-19 death toll in Karnataka to 28, a health official said.

The state has registered eight more COVID-19 cases in the past 19 hours, increasing the count of such cases to 659, the official added.

"Positive case 640, 62-year-old female resident of Vijayapura died on Tuesday due to cardiac arrest," the health official said.

Admitted to a designated hospital''s ICU on Sunday, the woman was also suffering from Chronic Obstructive Pulmonary Disease (COPD), Bronchial Asthma (BA) and complained of breathlessness.

Among the eight fresh cases that emerged in the state, four were contacts of earlier cases, two with Influenza Like Illness (ILI) and one with travel history to Uttarakhand.

The health department is also tracing the contact history of a 30-year-old woman from Bengaluru Urban.

Incidentally, no new cases emerged from Davangere as 22 cases rocked the district on Monday.

Among the new cases, Bengaluru Urban contributed 3, followed by Bagalkote, 2, Ballari, Dakshina Kannada and Bhatkal in Uttara Kannada, 1 each.

Of the new cases, six are men and two women.

Bengaluru, Jul 11: Amidst the mounting number of covid-19 cases, Karnataka is witnessing another disturbing trend of increasing number of people ending their life. After the lockdown was relaxed, the state saw a worrying jump in the number of suicides.

According to statistics, as many as 2,211 suicide cases have been registered in just two months. The number of suicides rose by 23% in May to 1,127, and by another 18% in June to 1,084, from an average of 912 suicides in the first three months of the year. 

In April, however, the number nearly halved to 477. But April was also the month during which the lockdown (announced on March 24) was complete, and everyone was at home -- which, experts say, could have prevented people with suicidal tendencies from taking their own lives.

Shockingly, number of teenagers including school children committing suicide also increased in the state in past couple of months.

With the pandemic still accelerating and impacting people in multiple ways, the World Health Organisation has urged people to pay greater attention to mental health and suicide prevention. 

Dr Poonam Khetrapal Singh, Regional Director, World Health Organisation (WHO), South-East Asia Region, said stigma related to Covid-19 infection may lead to feelings of isolation and depression. Another precipitating factor impacting mental health amidst Covid-19 could be domestic violence, which is reported to have increased globally as several countries imposed lockdowns, she said.

“Hitting lives and livelihoods, the pandemic is causing fear, anxiety, depression and stress among people. Social distancing, isolation and coping with perpetually evolving and changing information about the virus has both triggered and aggravated existing and pre-existing mental health conditions, which need urgent attention,” she said.

Dr H Chandrashekar, professor and head of the department of psychiatry at Victoria Hospital, said reasons for suicide are always multi-factored, combined, cumulative, unresolving and interrelated.

“There is grief everywhere now due to deaths related to Covid-19, and it may have an adverse effect on some. But people should be watchful of their family members, especially those who are in depression and have a history of suicide attempts. One should never ignore signs, like when someone says they feel like ending their life. They should not be left alone, and unconditional support needs to be given. Also, objects that could be used to commit suicide must be kept away from them,” Dr Chandrashekar said.