Section 144 clamped in Mangaluru; social media under scanner

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 1: A Bengaluru Court has extended the judicial custody of Amulya Leona, who raised 'Pakistan Zindabad' slogan at an anti-CAA rally in Bengaluru's Freedom Park on Feb 20, till March 5.

Amulya was sent to 14-day judicial custody for her actions in the presence of All India Majlis-e-Ittehad-ul-Muslimeen chief Asaduddin Owaisi.

A sedition case has been registered against Amulya.

According to the police, a suo moto case under Section 124A (sedition), 153A and B (promoting enmity between different groups and imputations, assertions prejudicial to national integration) have been registered against the girl.

Abu Dhabi: Yogish Prabhu K is the newly elected president of Abu Dhabi’s prestigious India Social & Cultural Centre (ISC) and he will serve for the period 2020-2021. ISC’s annual general body meeting and Election for 2020 were held on Thursday, February 27 and the election results of the election were announced during the early hours of Friday, February 28th morning.

In the keenly contested election, Yogish Prabhu emerged victorious. Humble origin and hailing from a small town of Karkala from Udupi district of Karnataka state has never deterred him from setting challenging goals. He belongs to a well-known Gouda Saraswat Brahmin family of K.V.Prabhu Coconut oil mill in Karkala. He is the eldest son of Late Rtn. Krishna Prabhu and Rtn. Bharati Prabhu.  His father and grandfather were freedom fighters who left a profound impression on him and their ideology “serving people is like worshiping God” (Jana seveye Janardhana seve) inspired and guided his life ever since. Prabhu has been a privilege member of ISC since 2003 and has been actively involved in ISC activities throughout. His relationship with ISC spans over 2 decades during which he has immensely contributed in many ways to ISC and the Indian community at large. A banker by profession, Yogish Prabhu is currently working as Vice President, Group Finance & Treasury, First Abu Dhabi Bank (FAB).

With some new initiatives in his mind, Prabhu wants to creatively improve the quality of ISC’s services, its humanitarian impact as well as the diversity of its membership. His intentions are always to help everyone irrespective of caste, creed, religion, language or status. As a new elected President of ISC, Prabhu’s main objective is to strategically plan and implement his vision through his ABC 5 Year Plan i.e.,

A-    Accountability & Transparency,

B-    Build a Sound Financial Plan and

C-    Compassion & Affection for the needy

so that ISC is recognized not just in UAE, but worldwide as a mascot of the great Indian community.

Prabhu thinks “as individuals, we can do only so much but with the support of Elected ISC Committee members and all the ISC members together, there is no limit to what we can achieve, and in the process, we can truly transform the ISC”. He proudly says, “I have a strong treasury management experience in ISC as well as in the bank which we need now more than ever”.

With his dynamic leadership, sheer dedication and ambition, ISC will definitely be scaling new heights of glory and prestige in Abu Dhabi and beyond. His humble nature, leadership qualities coupled with his rich administrative experience will surely help boost ISC’s popularity and meet its challenging goals and can serve people in a better way and contribute to the Indian community at large.

Yogish Prabhu has been married for 28years. His wife Chethana Prabhu Kasaragod too has been equally active in ISC and continuously supporting and participating in various sports, entertainment and literary committees throughout these years. She became ISC Women’s Forum Convener in 2016-2017. Their daughter, Aarti Prabhu is an IT Engineer from NITK Suratkal, working in Bangalore. Son, Ajith Prabhu finished his Masters in Mechanical Engineering and Management in Industrial Design in Queens University, Belfast, Northern Ireland, UK and at present doing his internship there. Both Aarti and Ajith are alumni of Abu Dhabi Indian School and both have represented National level CBSE Badminton meet. Also, Aarti was a Gold medalist in the school for scoring 100 in Mathematics in SSLC.

Following are few of his contributions and achievements:

•          Hon. Asst. Treasurer of ISC for consecutive years from 2005 till 2007

•          Hon. Treasurer of ISC in 2011.

•          Member of Finance Committee of ISC new infrastructure and premises from approval till completion.

•          In 2016, initiated the participation of ISC members as officials for International Yoga Day organized by Indian Embassy

•          In 2017, initiated the participation of children as officials to help the organizers so that children could learn their social responsibility and become good citizens.

•          In 2012, initiated ladies throw ball tournament in ISC and now it is extended to men too.

•          Member of IPEF since its inception in 2014. Also served as its Governing board member in the same year.

•          Founder member of ‘UAE GSB group’ since its formation in 2004

•          Committee member of ‘Gandhi Sahitya Vedi’ Abu Dhabi

•                    Treasurer of Abu Dhabi Karnataka Sangha

•          Head of Finance and member of other committees of ‘World Tulu Convention’ held in Dubai - 2018

Election was held for other Posts too. The other office bearers elected to the present committee are:

Vice-President: George Varghese.

General Secretary: Jojo J Ambooken

Asst.Gen.Secretary: C. George Varghese

Treasurer: Shijil Kumar N K

Entertainment Secretary: Jayapradeep K P

Literary Secretary: Elias Padavetty

Sports Secretary: Freddi J. Fernandes

Secretary Southern Region: Raja Srinivasa Rao Aita

Auditor: G.N.Sasikumar