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India’s Byju’s raises $150 million to expand globally – TechCrunch

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Byju’s, India’s most valuable edtech startup, has received new $150 million as it races to expand the reach of its learning app in the country and some international markets.

The unnamed ongoing financing round was led by Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar, and included participation from Owl Ventures, a leading investor in education tech startups. This is Owl Venture’s first investment in an Indian startup.

The 11-year-old startup, which has raised about $925 million to date and was valued at nearly $4 billion in December last year, said it would use the fresh capital to aggressively explore and expand in international markets. The startup has previously said it plans to enter the U.S. and UK, Australia, and New Zealand.

It acquired Osmo, a U.S.-based learning startup that is popular among kids aged between five and 12 for $120 million early this year. Osmo recently unveiled a new product to serve the pre-schoolers market.

Byju’s helps all school-going children understand complex subjects through its app where tutors use real life objects such as pizza and cake. It also prepares students who are pursuing under graduate and graduate level courses. Over the years, Byju’s has invested in tweaking the English accents in its app and adapted to different education systems. It has amassed more than 35 million registered users, about 2.4 million of which are paid customers.

“Investment from prominent sovereign and pension funds validates our strong business fundamentals. Indian ed-tech firms attracting interest from eminent investors demonstrates that India is pioneering the digital learning space globally,” Byju Raveendran, founder and CEO of Byju’s, said in a statement.

In India, Byju’s competes with a handful of players, including Bangalore-based Unacademy, which is aimed at students who are preparing for graduation-level courses. It raised $50 million last month.

India has the largest population in the world in the age bracket of 5 to 24 years. A report by KPMG and Google in 2017 estimated that the country’s online education market would grow to $1.96 billion of sales by 2021.

Byju’s generated around $205 million in revenue in the fiscal year that ended in March. It plans to increase that figure to over $430 million this year. Raveendran has stated that the startup intends to go public in the next two to three years.

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Today’s Wordle Answer #413 – August 6, 2022 Solution And Hints

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The answer to today’s Wordle puzzle (#413 – August 6, 2022) is alien, which means to be strange or exotic, or to come from a foreign land (via Merriam-Webster). Unlike yesterday’s word, alien has a rich etymology. It comes from Latin “aliēnus”, which means not one’s own, foreign, or strange. It’s also derivative of “alius”, which also means “other”. It also has roots in Middle English “alienen”, which means to transfer or surrender property rights, or to exclude.

Here’s a fun fact: Scottish church minister and science teacher, Thomas Dick, set out in 1848 to calculate the number of aliens living inside the Solar System. According to his predictions, if the population density of outer space matched that of England, with 280 people per square mile, then the Solar System might be home to 22 trillion inhabitants (via BBC). Now that’s a very chilling thought.

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Domestic Car Sales Have Gone Through A Steep Decline Since COVID

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Sales statistics compiled by DataHerald for SlashGear show a strong decline in the number of vehicle sales over the last few years. Some sales traditions, like a January dip followed by a strong spring sales period as tax returns hit people’s bank accounts, are apparent in the data we received. An interesting thing to note is how the annual January drop seemed to be more severe in 2021. January 2020 saw a drop of around 60,000 sales when compared to the previous month, and sales declined by roughly the same number between December 2020 and January 2021. However, due to the lower sales volume overall, the dip appears to be more severe on the chart and is drastically larger if you look at it as a percentage of sales instead of raw sales numbers.

As you may expect, the biggest dip in sales occurred at the height of the April 2020 lockdown. During this period, sales figures dipped below 125,000. This is likely because many showrooms and dealerships were closed, which meant there were fewer locations where you could actually purchase a car. Unfortunately, despite a brief recovery throughout the second half of 2020 and the first half of 2021, sales numbers never got back to pre-pandemic figures. Since May 2021 we’ve witnessed a steep decline that threatens to drop sales figures as low as they were at the height of the pandemic. In May 2022, sales were below 180,000 again, with no signs of the downward trend reversing.

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Tesla Is Finally Adding This Common Feature To Its Steering Wheels

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“All cars made since November also have push center for horn – just waiting on firmware update,” Elon Musk confirmed on Twitter about the horn placement issue. This was after a Twitter user asked if it was possible to “remap the horn on the steering yoke.” In other words, if you drive a Tesla car with a steering yoke, you can use a regular horn after a software update. In addition, the update will allow you to activate the horn if you press your palm against the right side of the steering yoke. 

Another user on Reddit spotted a Tesla Model S with a sticker on the steering yoke that says “Airbag horn enabled in SW-352573.” The photo suggests that Tesla is testing a different type of steering yoke that features a regular horn on the airbag location.

This isn’t the first time Tesla has made a U-turn after it tried to re-write the rules of the traditional horn –- it was forced to recall about 500,000 vehicles that made fart noises and bleating goat sounds instead of the usual beeping horn sound, thanks to a feature Tesla called Boombox (according to CNN).

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