As PM, I met Geelani 6 times to solve Kashmir issue, reveals Deve Gowda

Mysuru, Jan 19: Karnataka Rural Development and Panchyat Raj Minister K S Eshwarappa on Sunday claimed that Popular Front of India and Social Democratic Party of India have been indulging in anti-national activities.

Talking to media persons here, he said the government is mulling to ban and take action against PFI and its political arm SDPI.

It was recommended even during the previous government, but it was not taken seriously, he added.

He said that the BJP will ensure that all the MLAs who were instrumental in the party coming to power (the then-disqualified MLAs who joined BJP from Congress and JDS recently and won the bypoll subsequently) will not be let down and be given suitable posts in the government.

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, Jul 16: Rattled by the spurt in Covid-19 positive cases, a Karnataka minister on Wednesday said only god would save the people from coronavirus pandemic.

"Only god has to save us from the virus or the people should be made aware of the infection so that they wear mask and maintain social distancing," state Health Minister B Sriramulu told reporters in Chitradurga, 205-km northwest of Bengaluru.

Noting that the infection does not differentiate between rich and poor, police, doctors, politicians or legislators, Sriramulu said the communicable disease could rise to alarming level in the ensuing two months, as the cases were rising daily the world over.

"Who can control coronavirus? In the present situation, only god has to save us. Otherwise, the people should become aware of its (virus) consequences. If we have made mistakes, we are ready to face punishment for them," said Sriramulu, who is the ruling BJP's legislator from the Molakalmuru reserved assembly segment in the district.

Refuting the opposition Congress charge that the cases were rising in the state due to negligence by ministers, officials and legislators, Sriramulu said Karnataka was performing better than other states till the cases began to steadily rise since unlock started and the people were moving in violation of the guidelines.

A record 3,176 cases were reported from across the southern state during the day, taking the Covid tally to a whopping 47,253, including 27,853 active cases after 18,466 were discharged, with 1,076 during the day, while 928 succumbed to the virus, with 87 in the last 24 hours.

In Bengaluru, which is under 9-day lockdown since Tuesday night till July 22 morning, 1,975 positive cases were registered, taking its tally to 22,944, including 17,051 active after 5,455 were discharged so far, with 463 during the day, while 437 died of the infection, with 60 in the last 24 hours.