Will disclose history of Tipu if my name is printed on invitation: Ananth Kumar

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.

Kasaragod, Mar 23: With 19 more positive cases reported on Monday, surveillance against people coming out of their houses and wandering around in public places has been intensified in the district.

With today's addition, the total number of positive cases of Novel Coronavirus (COVID-19) has increased to 38 in Kasaragod.

There will be total restriction in place for the public to step out of their houses. Those who are found outside on the streets would be arrested, caution the district authorities. Please log in to get detailed story.

Mangaluru, Jan 5: In a frightening incident, a leopard which was trapped in a snare attacked and injured three persons in its successful bid to escape Balpa village in Sullia taluk of Dakshina Kannada. 

The incident occurred on Thursday when around 15 forest staff approached the trapped leopard to tranquilize it with a dart. The leopard, however, managed escape. 

While running away, it attacked a villager Balakrishna, aged about 70, who was working in the nearby plantation. He sustained injuries on his upper lips.

He was rushed to a hospital in Sullia and then was shifted to the Government Wenlock hospital for further treatment. He is learnt to be out of danger.

After this incident, the forest department kept a tab and tracked the leopard using a drone.  

According to V Karikalan, deputy conservator of forest (DCF), Dakshina Kannada, Between 5pm to 5.30pm on a tip off that leopard was spotted near a bush, the forest department tried to approach it again and the animal jumped on the officials, injuring Assistant Conservator of Forests Austin and forest guard Divith. 

The injured were rushed to a nearby hospital and then taken to Mangaluru for further treatment. They are learnt to be out of danger.

Meanwhile, the department is continuing combing in the village and surrounding areas. Three teams consisting of three RFOs and 10 Dy RFOs, supported by doctors are on the field. The forest department has also placed two leopard capturing cages in the area. Night patrolling will continue and public announcements are being made.