‘Surathkal toll plaza is temporary; to be merged with Hejamady soon’

Newsroom, Jun 16: A 35-year-old Kannada lecturer died in a motorbike accident at Tumkuru in Karnataka.

The deceased is K N Swamy, who was a guest lecturer in Department of Kannada at Central University of Kerala located at Periya in Kasaragod district.

The accident occurred on Sunday afternoon when he was riding his motorbike.

Swamy was also a writer and poet in Kannada.

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.

Kolar, May 7: A 38-year-old man has been arrested for biting a snake and peeling off its skin at Mustur village in Kolar district of Karnataka.

Mulbagal range forest officer KN Ravikeerthi said forest officials nabbed Kumar, a construction worker, at Mustur on Wednesday and booked him under the Wildlife Protection Act. He was under the influence of alcohol.

Ravikeerthi said Kumar's offence is non-bailable and attracts a jail term of up to three years. The remains of the snake were collected and sent to a lab to ascertain its species. Forest officials said the snake Kumar bit was not a viper as was reported earlier but a rat snake.

On Tuesday, Kumar was riding back home after buying liquor when the snake ca me under his bike's wheels. He tossed the injured snake around his neck, bit it and peeled off its skin. Kumar said the snake had troubled him in the past.