Young Gram Panchayat member ends life by consuming poison

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.

Bengaluru, Apr 8: Heavy rain lashed Belthangady taluk in Dakshina Kannada district and parts of Udupi district on Tuesday providing much-needed relief to the people from the sultry heat.

Belthangady, Guruvayanakere, Madantyaru, Venoor, Naravi and surrounding areas received rain coupled with lightning and thunder. 

Rain also lashed Karkala, Kundapura, Kollur, Siddapura, Gangolli, Hemmady, Uppunda, Shiroor, Hebri and surrounding areas in Udupi district.

Parts of Malnad --- Koppa, Balehonnur and NR Pura taluks in the neighbouring Chikkamagaluru district --- received good rainfall coupled with lightning and thunder.

The rain has brought a smile on the face of coffee growers as it will help in the blossoming of the flowers in coffee plants.

In Kodagu district, heavy rain lashed Madikeri, Hudikeri, Ponnampet, Srimangala, Siddapura, Galiubeedu, Bapoklu, Talacauvery and Bhagamandala.

Parts of Mysuru city and district, Chamarajanagar, and Hassan received a good spell of rain on Monday night, bringing down the mercury levels.

Heavy rain lashed T Narasipur taluk in Mysuru district and the Kothegala Gram panchayat limits received 7 cm rainfall. Karya village in Nanjangud taluk received 5 cm rainfall.

Male Mahadeshwara Hills in Chamarajanagar district received good rain in the evening. 

Meanwhile, the Agriculture Research Station at Naganahalli has predicted thunderstorms, on April 7 and 8 in the region. The research centre recorded 12 mm rain on Sunday night and 22.5 mm on Monday midnight. 

Moderate to heavy rain, accompanied by strong wind and lightning, lashed some parts of Shivamogga district, including Ripponpet, Sorab, Bhadravathi, Thirthahalli, Sagar
and Shikariput. 

Bhatkal in Uttara Kannada district received heavy rain from 4 to 7 pm. The town had also received the rain for about half-an-hour in the morning.

Hosapete town and the surrounding villages also received the rain. At some places, the rain brought down the branches of the trees. The rain has cooled the mercury level at Hosur, Nagenahalli, Basavadurga, Kamalapur, Hampi and other villages in Hosapete taluk. 

Rain also lashed several places in Ballari district, including the Ballari city. Rain, accompanied by hailstones, brought cheers to the people at Kottur. 

Meanwhile, rain and hailstones have destroyed the standing paddy crop in hundreds of acres of land at Maraladinni, Katagal, Uskihal, Belladamaradi and other villages in Maski taluk of Raichur. The farmers are waiting to harvest the crop.

Mangaluru, Apr 26: After directions from Karnataka government, migrant labourers are being sent to their native villages in batches by hiring as many as 60 buses.

Divisional Controller of Mangaluru KSRTC Division S N Arun said on Sunday that 100 buses from Mangaluru and Puttur ferried stranded labourers on Saturday. Buses were disinfected before the journey.

Buses also left from Dharmasthala, Bantwal, Puttur and Sullia to different destinations. In adherence to social distancing rules, each bus left with 20 to 22 labourers.