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‘Unrest in Dakshina Kannada may affect investments flow into Karnataka’

coastaldigest.com news network
July 13, 2017

Mysuru, Jul 13: Expressing concern over communal unrest and violence in coastal district of Dakshina Kannada, a senior BJP leader has warned that the recent development could affect investments flowing into Karnataka.bc road 11

Nirmala Sitharaman, the Union Minister of State for Commerce and Industry Nirmala Sitharaman, speaking to media persons, here, said that Karnataka was always an investor-friendly State and the potential of Bengaluru is internationally recognised.

“But, if Bengaluru is seen as the capital of a State where such incidents take place and there are law and order issues or people are being killed for ideological reasons with no sufficient action taken to curb it, then it could affect investments,” she said.

Ms. Sitharaman said administrative action should bring greater sense of security and safety. If the State is not strong enough to bring the culprits to justice then investments will suffer and ‘we do not want that to happen’, she said.

Referring to the killing of RSS activists in Mangaluru recently and in Mysuru last year, Ms. Sitharaman said nothing was done to curtail such violence and sufficient action was not taken to nab the suspects or produce them in court.

Ms. Sitharaman claimed that the public response to her door-to-door campaign was overwhelming and people were aware of the development works being taken up the Centre and expressed confidence that the people will stand by the BJP in the assembly elections slated to be held next year.

In reply to a question, Ms. Sitharaman said the concept of vistarak was a nation-wide and not rolled out in anticipation of the elections next year in Karnataka. “I am in Mysuru to spend a day as a Vistarak,” said Mr. Sitharaman, who will also interact with industrialists and entrepreneurs on GST later in the day. Earlier, she also took part in a cleaning campaign at a park under Swachh Bharat Abhiyan and visited a few localities as part of public contact programme.

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Ranjan shetty
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Sunday, 16 Jul 2017

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News Network
January 10,2020

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.

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News Network
April 16,2020

Bengaluru, Apr 16: A 66-year old man from the city, became the thirteenth COVID-19 related fatality in Karnataka, Health Department officials said on Thursday.

The elderly patient from Bengaluru, who was coronavirus positive died on April 15 at Victoria Hospital in the city, officials said.

"He was referred from a private hospital and was admitted in Victoria Hospital and was on ventilator support since April 10," they added.

A 80-year old woman in Belagavi and a 65-year old man from Chikkaballapura had also died on Wednesday.

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News Network
July 31,2020

Bengaluru, Jul 31: An ambulance driver was thrashed by the family members of a 75-year-old COVID-19 patient who passed away on his way to the hospital in Bengaluru on Thursday.

The incident happened after the patient died in the ambulance while waiting in front of the MS Ramaiah Hospital in Bengaluru.

The driver was dragged out of the ambulance and chased around by a relative.

His clothes were ripped off and harangue were hurled at him. The relative was seen shouting and blaming the driver for the patient's death.

Speaking to news agency, the driver said that he was unable to explain the sequence of the protocol which was to be followed while getting the patient to the treatment ward.

Karnataka is one of the worst-affected states by the coronavirus pandemic. According to the Union Ministry of Health and Family Welfare, the state has 67,456 active cases as of Friday.

The state government has been struggling to contain the spread of the disease as it has intermittently imposed and eased lockdown measures, especially in the capital Bengaluru.

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