Byju’s investor Qatar Investment Authority has reportedly approached the Karnataka High Court to block its founder from selling, pledging, or transferring his assets. Separately, Glance is in advanced talks to raise funding round.
QIA asks court to block Byju’s personal assets
Byju’s backer, the Qatar Investment Authority (QIA), has approached the Karnataka High Court to block founder Byju’s Raveendran from selling, pledging, or transferring his assets, according to media reports.
Mint reported the development first.
QIA has requested the court to “pass an order of injunction restraining Respondent No. 1 (Byju Raveendran), including his servants, agents, and assigns, from in any manner dealing with, parting with, selling, charging, pledging, transferring, disposing of, alienating, or encumbering, or in any manner creating any right, title, or interest in any of their assets,” according to media reports.
Google set to lead Glance funding round
Mobile content provider Glance is in advanced talks to raise a funding round led by existing backer Google, Bloomberg reported.
Glance InMobi is set to raise as much as $250 million as early as a few weeks, people familiar with the matter said, asking not to be named as the talks are private. The fundraise is not yet finalised and discussions may still break down.
The company declined to comment on a DealStreetAsia request.
Glance smart lock screen is a pre-installed, customisable feature that enables mobile and smart devices manufacturers to display content (including promotional, advertising, entertainment or informative) on devices using photos, text, videos or other formats.
The firm is also backed by Peter Thiel’s Mithril Capital and Alphabet, which invested $100 million in December 2020. In Feb 2022, the company raised $200 million from India’s Reliance Industries and acquired Gambit in March the same year.
