Tamil star Simbu’s younger brother Kuralarasan embraces Islam in presence of parents

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.

New Delhi, Mar 25: The exercise to update the National Population Register (NPR) and the first phase of the Census 2021 will not be held as scheduled due to the 21-day lockdown announced by Prime Minister Narendra Modi, officials said on Tuesday.

Both the exercises were supposed to be carried out from April 1 to September 30.
Due to the prevailing situation, the NPR and Census exercises have been deferred till further orders, a senior home ministry official said.
The Prime Minister has announced a 21-day lockdown across the country from Tuesday night due to the outbreak of the coronavirus.

Bengaluru, Jul 24: To condemn violence on healthcare workers and to voice issues concerning medical fraternity, Karnataka Association Of Resident Doctors (KARD) has called for a nationwide symbolic protest from July 24.

"In order to condemn violence on healthcare workers and to voice all our issues, we have called nationwide symbolic protest from July 24. We will protest symbolically by wearing black bands, across the state and have sought support from residents pan-India," KARD said in a statement.

"We, the resident doctors of Karnataka have been undergoing various difficulties while executing our duties during the COVID-19 pandemic," it added.

"Arrest and legal action against culprits involved in K.C General hospital incident. Arrest and legal action against culprits involved in Belgaum incident. Condemnation of atrocities on doctors in Bidar and action against the official. Ensuring safety protocols at all hospitals and COVID care centres with adequate security and police personnel," KARD demanded.

"No hierarchy in a pandemic"- common work pattern for all doctors irrespective of hierarchy/cadre. Immediate release of funds for a stipend for an already sanctioned hike. COVID duty and night duty allowances. Ensuring an adequate supply of N-95 masks, face shields, surgical gowns in all non-COVID working areas. An adequate supply of good quality PPEs for all COVID working areas," KARD demanded.

Earlier, the nurses of Karnataka Institute of Medical Sciences (KIMS) in Hubli called off the protest after receiving assurance from Nitish Patil, the Dharwad district Deputy Commissioner (DC).

The protest was staged on Wednesday afternoon in front of KIMS by nurses who alleged that the administration had not provided adequate Personal Protective Equipment (PPE) kits, masks and sanitary facilities amid the COVID-19 pandemic situation.