Maha deradicalisation programme only for minorities; saffron terrorism ignored

Bengaluru, Feb 17: Karnataka State Government have plans to establish three more ultra Mega Renewable Energy power parks, each of 2500 MW capacity, Karnataka Governor, Vajubhai Wala informed the joint legislative meeting, here on Monday.

Addressing a Joint Legislative meeting here, he said that the proposed Ultra Mega Renewable Energy parks would come up at Koppala, Bidar and Gadaga in the state.

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.

Kochi, Mar 30: Kerala High Court, while hearing a petition filed against Karnataka's decision to block the border with Kerala, on Monday said that no lives should not be lost in the name of fighting coronavirus.

Kerala High Court also said that "the current problem should be resolved amicably. Both the Union government and the Karnataka government should rise to the occasion."
The Central government has informed Kerala High Court that the movement of goods and medical services qualify under essential services, which is permitted despite the lockdown, and added that directions have been issued to give priority to the movement of such goods and services.
Meanwhile, the Karnataka government has sought a day's time to clarify their stand.

The matter will be taken up for further hearing via video conference tomorrow.
Kerala government has submitted that the action of Karnataka government to close the border is illegal as all the national highways in the country come under the jurisdiction of the National Highway Authority.

Meanwhile, Congress MP Rajmohan Unnithan has also approached the Supreme Court seeking directions to open the Karnataka-Kerala border to allow movement of ambulances and other emergency vehicles for the transport of essential items to Kerala.