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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, Feb 10: The Rashtriya Swyamsevak Sangh (RSS) on Sunday conducted a route march (Pathsanchalan) in Ramanagara to express solidarity with the anti-Christian forces protesting against a project to install 114-feet tall Jesus Christ statue atop Kapalabetta in Harobele town in Kanakapura taluk in Ramanagara district.

Hindutva ideologue Kalladka Prabhakara Bhat, who had led a rally in Kanakapura last month against the project, also led the Sunday’s route march and addressed a public meeting following the march.

“The district name is Ramanagara, but they have not nurtured the culture of Ram here. They have developed a strong culture of Ravana, which we pledged to dislodge,” Bhat told the gathering.

He said the Sangh Parivar will never allow the statue to come up as he said it would foment religious conversion that is rampant in Harobele.

“The so called Kapalabetta is of stones, which are revered as Lord Muneswara by the Hindus. This hillock must be named as Muneswara Betta,” he added.

Referring to the ongoing protests against the Citizenship (Amendment) Act (CAA), Bhat said the law was brought in to protect the Hindu minority in Pakistan and Bangla Desh.

“The Muslims living in India hail Pakistan. But when we ask them to go to Pakistan, they will never go,” he took a jibe at the minority community.

Reacting to the RSS route march, senior Congress functionary DK Shivakunar, who represents Kanakapura assembly seat, said the Sangah Parivar is trying to disturb the communal harmony in the district and they will never succeed in it.

“The BJP is operating through the Sangh Parivar in the Ramanagara district. The party has won as may as 26 Lok Sabha seats in Karnataka, still they are doing all these things to keep their support base. People of Ramanagara will never back them,” said Shivakumar.

Bengaluru, Apr 18: Karnataka Health Minister B Sriramulu drew flak from his own party the BJP as well as the Congress for allegedly letting hundreds of people throng the Rupangudi Road in Ballari to collect food packets from him.

Visuals showed that the people came in hordes and fell on each other to collect the packets Sriramulu was distributing to the poor and needy as relief measure in the wake of lockdown.

The videos showed the minister standing with his team by the roadside and spreading out tables all along to distribute the food kit to the poor people.

Those in the queue had elderly people too.

A majority of people who rushed to grab the food packets did not bother to protect themselves with a mask.

"Whoever has done he has committed a blunder whether it is Sriramulu in Ballari or Anand Singh in Hospet.

All these elected representatives want to show that they are serviing the people in their constitutuency," said Karnataka BJP spokesperson Go Madhusudana.

Flaying the leaders of all political parties for defying norms, Madhusudana sad this has become fashionable for the leaders to perform 'cheap shows'.

He advised Sriramulu that it should have been done with door-to-door delivery of food packets instead of arranging it at the public place.

Congress spokesperson K E Radhakrishna said a case should be registered for defying regulations.

"I am all appreciation for Prime Minister Narendra Modi and Karnataka chief minister B S Yediyurappa who were the first to wake up and do something good for the people.

Now I feel sorry for them.

I wonder why they cannot control their own partymen.

People should file FIR against him (Sriramulu)," Congress spokesperson Prof K E Radhakrishna said

Slamming the alleged VVIP culture in the country, Radhakrishna said when the nation is facing a crisis, lavish marriages and grand birthday parties were organised. In the midst of all this health minister organises a food distribution mela, he added.

Attempts to reach the minister went in vain.

However, speaking to reporters at Ballari, Sriramulu admitted that the cases suddenly shot up in the state because of disregard to social distancing.

"People's support to lockdown is essential.

People have to maintain social distancing, without which we cannot control it," the minister said.