B M Farookh acquires Karnataka’s first 2018 Range Rover LWB Autobiography

Bengaluru, Jan 15: The Indian startups secured 12.7 billion in funding last year -- a 15% growth compared to 2018 - and Bengaluru startup community topped the list, with securing $5.3 billion across 267 deals, a new report said on Tuesday.

In total, the Indian startups attracted 766 deals in 2019, taking total deal count between 2014-2019 to 5,011, said DataLabs by Inc42 in its annual startup funding report.

Sequoia took the top spot as the most active VC in 2019 with 53 deals, followed by Accel that participated in 38 deals. Blume Ventures, Matrix Partners and Tiger Global were in the top five VCs in 2019.

"The Indian startup economy is entering new decade with over $58 billion in fundraising and 2,984 funded startups between 2014-2019," the findings showed.

With an average of $21 million, the ticket size value of funding increased by 15% in 2019.

Ecommerce and fintech -- with $2.6 billion funding each -- took the top slot with 93 deals and 125 deals, respectively.

"Ecommerce continued to remain at the top by the end of 2019. The growing investor confidence towards sub-sectors such as vertical ecommerce, social commerce and private label businesses is one major factor for ecommerce maintaining its lead," a DataLabs spokesperson said in a statement.

According to the estimates, the funding amount and deal count in 2020 will be around $12.6 billion at a 1% decline from 2019.

"Nevertheless, the investment activity is expected to rise in 2021," said the report.

The data suggests that 2019 had lowest number of startups funded (664) in the last five years, with seed-stage funding deals dropping by 53%, compared to 2016.

With $252 million in funding, seed-stage deal value fell by 44% (compared to 2018) as only 306 seed funding deals were recorded, the report said.

The enterprise tech had a blockbuster year with total funding of $1.15 billion across 114 deals in 2019. The sector recorded a 49% surge in total funding amount, compared to 2018.

The Indian startup economy saw 275 unique VCs participating in funding in 2019, said the report.

Belagavi, Jul 23: As many as 14 persons have been arrested following last night’s violence at Belagavi Institute of Medical Sciences (BIMS) - District Hospital.

Angered over the death of a Covid-19 patient, family members had turned violent and damaged the BIMS with stones and set an ambulance on fire alleging medical negligence. 

The 55-year-old male had been admitted to the hospital for treatment on July 19, for treatment of Severe Acute Respiratory Infection (SARI) and was positive for Covid-19 according to the report received on Wednesday. He died on Wednesday night while being shifted to Intensive Care Unit for treatment of respiratory problems.

Police rushed to the spot and brought the situation under control. Two persons were detained in the spot and 12 persons later. The matter is under investigation and the police have launched a manhunt to nab the other accused.

During the violence, a police personnel and five other hospital staff suffered injuries.

Meanwhile, prohibitory orders under Section 144 CrPC were imposed in the areas surrounding the hospital to prevent crowd gathering. 

Deputy Commissioner M G Hiremath visited BIMS on Wednesday night and held a meeting with the doctors and nurses treating the patients and those who were at the receiving end of the violence.

Hiremath said that he instilled confidence among the doctors and nurses and assured them that safety measures would be taken. Security arrangements will be made and prohibitory orders will be imposed. Presently entry of people has been banned, he said.

Police Commissioner Dr K Thiyagarajan said that cases will be filed against all those responsible for the violence. People whose vehicles have been damaged can also file complaints.

Mangaluru, June 5: A local businessman was hacked to death while two of his relatives suffered critical injuries in a broad daylight attack by a group of miscreants at Mulki on the outskirts of the city today.

The victim has been identified as Abdul Lateef (38). He was proprieter of Align Gold, Moodbidri. His wife is an advocate in Moodbidri. 

Abdul Lateef's father-in-law Muneer and latter's son Hayat suffered stab injuries. They are undergoing treatment at a hospital in Mangaluru. 

The attack took place near the Vijaya Bank in Mulki. 

According to sources, a gang of miscreants stabbed all three. While Abudl Lateef succumbed to his injuries, the other two are responding to the treatment. 

Police have registered a case. Investigations are on.