Shocking: Both the victims of police firing named in FIR

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 2: In a bid to discourage people from coming out on roads during the lockdown, Bengaluru Traffic Police have inscribed a message that reads, "If you come to road, I'll come to your home."

It was written on the road at Nagenahalli check-post. The message was written by the cops in the regional language.

Meanwhile, nine fresh cases were reported in Karnataka with the count rising to 110 in the state on Wednesday.

Out of the total cases, three persons died due to the virus while nine others have been discharged after recovery.

"COVID-19 cases climb to 110 in Karnataka, with nine fresh cases being reported between 5 pm yesterday and 2 pm today. Out of the total cases, three have died while nine others have been discharged," a bulletin issued by the state health department said.

"Out of 110 cases detected and confirmed in Karnataka so far, seven cases are transit
passengers of Kerala who have landed in our airports and being treated in
Karnataka," it added.

The Union Ministry of Health and Family Welfare on Wednesday said that there are 1,834 coronavirus positive cases in India, including 1,649 active cases, 144 cured/discharged/migrated people and 41 deaths.

Bengaluru, May 3: The Excise Commissioner of Karnataka has issued an order granting permission to distilleries, breweries and wineries situated outside the containment zones to begin production activity. The permission has been granted on the condition that they strictly comply with COVID-19 related guidelines issued by the Ministry of Home Affairs.

"In view of the state government order and the new guidelines issued by the MHA, permission is granted to distilleries, breweries and wineries situated in rural areas and industrial estates and industrial townships with access control (outside containment zones) to commence only production activity," the Excise Commissioner said in the order.

The Excise Commissioner further said in the order that the Deputy Commissioner of Excise shall ensure that wherever distilleries, breweries and wineries are permitted to carry on production activities, they shall strictly comply with COVID-19 related guidelines issued by the MHA.