Values declining in Indian politics: Pejawar seer

Udupi, Jan 25: The accused, who planted a crude bomb at the Mangalore International Airport on January 20, was brought to Udupi on Saturday, to collect information, as part of the spot investigation, police said here.

According to police officials, accused Aditya Rao was brought to Karnataka Bank Kadiyali branch, where Rao had a Safe Locker. The team opened the locker and seized the documents, along with a Box.

They said the seized documents, along with the Box, will be sent to the FSL for investigation.

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.

Mangaluru, Feb 27: An utterly unprofessional thief, who fell asleep after breaking into a house, was caught by the house owner and handed over to the police in the coastal district of Dakshina Kannada.

The hilarious incident took place on Wednesday in the one-storey, tiled-roof house owned by Sudarshan at Ullas Junction under the limits of Uppinangady police station.

The thief, who gained entry into the house by removing the roof-tiles, has been identified as Anil Sahani, a native of Bihar’s Majipur district. He was snoring on the sofa with a set of keys clutched in his hand when the house owner woke up in the morning.

The house owner, who was sure that the thief was drunk, woke him up by hitting him with a stick and then handed him over to the police.

According to police, the thief was tired after removing the tiles on Tuesday night and hence he decided to take a nap soon after entering the house.

He grabbed a bunch of keys kept near the TV stand and then lied down on the sofa. He woke up only when the house owner hit him with a stick the next morning.