Mangaluru-Kerala road connectivity sealed till March 31 over COVID-19

Bengaluru, Apr 28: Karnataka has found that the rapid antibody test kits for COVID-19 that the Centre supplied to the state have only 47% sensitivity. The state will be returning the kits to the Indian Council of Medical Research (ICMR).

Karnataka had received 11,400 rapid antibody test kits from the ICMR a few days back, out of which it had sent around 200 of them to NIMHANS for validation.

After the ICMR, on Monday, sent a circular to all states to return the test kits to the suppliers, Dr CN Manjunath, Director, Jayadeva Institute of Cardiovascular Sciences and Research, and nodal officer for lab testing in the state's COVID-19 task force, said, "We have cancelled the orders we placed to Guangzhou Wondfo Biotech and Zhuhai Livzon Diagnostics for one lakh rapid antibody test kits. Since the ICMR supplied us with 11,400 kits out of the 6.5 lakh kits it procured, we will be returning the kits to them."

Manjunath told said that the validation at NIMHANS revealed the kits to have only 47% sensitivity. Sensitivity is the ability of a test to identify the true-positives in a population, i.e., the actual number of people who've been infected with the disease. With the rapid antibody testing kits being shelved, the state's plan to randomly test high risk groups has taken a backseat. 

So far, the state has tested 43,791 samples. 

Karnataka now has 22 testing facilities -- 14 government and seven private labs. Many private labs have not tested any samples so far because of the lack of test kits (the state has made it clear that it will not provide test kits to private labs). So, getting an ICMR approval for testing has become a moot point.p

Agreeing to the setback the state's plans of ramping up testing has taken, Manjunath said, "It is true that RT-PCR test kits are in shortage. Even Pune's Mylabs had a shortage in supplying test kits. But we are relying on institutes like Kidwai, Narayana Health and Biocon's Syngene that have received approval for testing. They're big institutes and we hope that they will test a large number of samples."

On reports that the Centre has RT-PCR test kits that will last for only a week, he said, "We have test kits that will last for eight to 10 days. We have ordered for more. We are hoping to receive them before the current kits run out."

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.

Shivamogga, Feb 6: A youth, who allegedly uploaded pornography and inappropriate videos of children on social media, was arrested by the district CEN police after a tip-off from the CyberTipline.

The accused is a resident of Sorab taluk and is said to be below 18 years. He uploaded the objectionable content during April and May last year. He was traced based on the IP address of his computer and the mobile call records shared by the investigating agencies.

He was arrested in January under the provisions of the Information Technology Act 2000 and sent to judicial custody, said police sources.