Muslim philanthropists set an example by helping Hindu, Christian families

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 8: The Karnataka government is in favour of lifting the coronavirus lockdown in districts which remained free of the virus infection, subject to approval from the Centre, Chief Minister B S Yediyurappa said on Wednesday.

In an interview to, he also said the state intended to relax liquor sales, stopped since the 21-day lockdown was imposed to contain the spread of COVID-19, after April 14 in a bid to increase state revenues.

The chief minister said the state's legislators would take a 30 per cent salary cut.

According to officials, there were no COVID-19 cases in 12 districts of the total 30 districts in the state.

As on Wednesday, there were 181 COVID-19 cases in the state, including 5 deaths and 28 discharges.

"If the Prime Minister suggests to states to take decision (on lock-down) based on the situation in their respective states, my position is to take a call (on roll-back) in districts free from COVID-19", Yediyurappa said.

This is to allow people to go about their business and move about within the district and not from one district to another, after April 14, after taking the approval of the Prime Minister, he said.

Manglauru, Jun 1: The southwest monsoon has made an onset over Kerala, marking the commencement of the four-month long rainfall season, the India Meteorological Department said on Monday.

"The southwest monsoon has made an onset over Kerala," IMD director general Mrutyunjay Mohapatra said.

The four-month monsoon season from June to September accounts for 75 per cent of rainfall in the country.

Private forecaster Skymet Weather on May 30 had declared arrival of monsoon, but the IMD had differed, saying conditions were not ripe then for such an announcement.

Orange alert

Meanwhile, coastal Karnataka’s Dakshina Kannada district, which is receiving sporadic rains for past couple of days, is on orange alert.

Deputy Commissioner Sindhu B Rupesh declared the orange alert following IMD’s prediction of heavy rainfall in the region.