Kateel seeks CM’s resignation over media claims on Mangaluru DySP’s suicide

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, Mar 27: Karnataka has recorded the third death due to the Covid-19 virus. It is a man from Tumakuru with a travel history to Delhi. He had been put in isolation at the District Hospital in Tumakuru on March 24.

His travel history indicates that he travelled to New Delhi by the Sampark Kranti Express (Coach S6) on March 5 along with 13 members. They reached Hazrat Nizamuddin station in New Delhi on March 7 and went to the Jamia Masjid and rented an room at a lodge nearby.

He began the return journey to Karnataka by the Kongu Express on March 11 in Coach no. S9. On March 18, he developed cough and fever and visited a private hospital the next day. He was referred to the District Hospital in Tumakuru but on March 24, he left the hospital against medical advice and went to a private medical facility. He was referred back to the District Hospital, where he was put isolation.

The Himachal Pradesh police have confirmed the arrested a man for injuring a pregnant cow by feeding her wheat flour ball laced with firecrackers. 

The cow’s jaw was blown off-- reprising the tragic story of a pregnant elephant that lost its life after eating a pineapple stuffed with a firecracker in Kerala.

While the incident took place on May 26 in Jhandutta area of Himachal Pradesh’s Bilaspur district, it came to light only on Saturday, May 6, when the cow’s owner, Gurdayal Singh, uploaded a video of the injured animal on social media.

In the video, Gurdiyal Singh describes how the cow’s mouth had been injured after one Nandlal fed her explosives.

He confirmed that Nandlal works as a mechanic in Singh’s neighbourhood. Singh said that Nandlal has no remorse for his action. Nandlal has said that he is not scared of the repercussions and that he will continue to do whatever he deems fit. “Even the village sarpanch cannot harm me”, challenged Nandlal when confronted by Singh. 

The cow has given birth to a healthy calf since but Singh said the animal is still not able to eat because of an injured jaw and is being administered Glucose.

The video went viral with people demanding strict action against the person who fed firecrackers to the animal.

The practice of studding dough balls with firecrackers isn’t uncommon in Himachal, and farmers resort to this to keep wild animals, especially boards, off their fields. In the Kerala incident too, the explosive-filled-fruit was meant for wild boars. In many parts of the country, including Himachal, the method is also used to hunt for bush meat -- an illegal practice.

Bilaspur superintendent of oolice (SP) Devakar Sharma confirmed the incident and said the cow was fed a highly explosive firecracker popularly called “aalu bomb”. 

Aalu is Hindi for potato. He said a case under Section 286 of the Prevention of Cruelty to Animals Act has been registered and the role of the neighbours named by Singh is being investigated.