World’s first ‘zero energy’ green mosque all set for inauguration in Udupi’s Kodi

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.

Mysuru, Jan 11: City Police has intensified its search for a girl student who a displayed 'Free Kashmir' poster during a protest two days back.

According to police, a girl student displayed the poster carrying an anti-national message, during the protest organised by University of Mysore Researchers Association and other organisation on Wednesday to oppose the attack on the students and the teachers in Jawaharlal Nehru University in the National Capital. An officer said that as per the documents available, it appears that a girl student displayed the placard for a few minutes.

"We are looking for the accused". The Jayalakshmipuram police have taken up suo motu cognisance of the case. Meanwhile. the office of Governor Vajubhai Vala, on Thursday, sought a detailed report from the University of Mysore (UoM) over the incident. The city police have booked the protestors under Section 124A of the Indian Penal Code (IPC).

Mangaluru/Udupi, May 20: Islamic scholars belonging to different schools of thoughts including two prominent Qadis have issued special guidelines asking all Muslims in the region to offer prayers and celebrate Eid al-Fitr at home this year in keeping with the extended covid-19 lockdown.

Eid al-Fitr which marks the end of the month-long dawn-to-sunset fasting of Ramadan is rather a ‘humanitarian event’ than a fiesta. This year Eid is likely to be observed in coastal Karnataka on May 23 or May 24 depending on sighting of the new moon.  

Amid the Covid-19 pandemic, the Muslims are preparing for — and reconciling itself to — a most unusual Eid bereft of all the usual trappings like huge prayer congregations, ceaseless shopping, social visits and the inviting warmth of an Eid Mubarak embrace.

In their separate messages, Udupi Qadi Bekal Ibrahim Musliyar and Mangaluru Qadi Twaqa Ahmed Musliyar have urged Muslims to refrain from all kinds of public gatherings during Eid. Noting that Muslims in the region have followed all the advisories in issued by the government to contain the spread of coronavirus in the blessed month of Ramadan, they have urged them to follow the guidelines during Eid too.

On social media groups, messages like “no new clothes, just wear your best clothes” are being circulated among family and friends, urging people to fill the festive void with the spirit of giving. The suggestions range from paying a needy child’s school fee or someone’s rent to helping a lockdown-hit trader revive his business.

Following guidelines are issued by the top clerics ahead Eid

1) There will be no Eid prayer in mosques or Eid-gahs. Hence, Muslims should offer Eid al-Fitr prayer in their homes with family members.

2) Distributing Zakat al-Fitr among needy is mandatory. However necessary safety measures should be taken while going out such as wearing masks and maintaining physical distance. As there is lockdown from 7 p.m. to 7 a.m. every day, Zakat al-Fitr can be distributed a day before Eid or on the day of Eid before evening. 

3) Women, children and elderly people should not step out of the houses.

4) Avoid visiting graveyards or other places.

5) All mosques are closed due to lockdown. Hence, observe Eid in a simple way and set an example for the society. 

6) Strictly follow all the guidelines issued by the state and central governments