Telecom fraud: 3 more Mangaluru expats likely to walk free from Saudi jail soon

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.

Feb 25: Two Customs Preventive officers allegedly involved in gold smuggling cases in Kerala were removed from service, a top official said in Kochi on Monday.

Sumit Kumar, Commissioner of Customs (Preventive), Kochi, said that he took action against Radhakrishnan B, Superintendent of Customs, and Rahul, Inspector of Customs, who were allegedly involved in gold smuggling cases in the state.

Radhakrishnan was involved in attempted smuggling of gold weighing 24998.61 grams having a market value of over Rs 8 crore through Thiruvananthapuram international airport on May 13, 2019, Kumar said.

Rahul was involved in attempted smuggling of gold weighing 11,035.54 grams valued at over Rs 4 crore through international airport on August 19, 2019, the Customs Commissioner added.

Radhakrishnan is currently lodged in Central prison, Thiruvananthapuram after the Central Economic Intelligence Bureau under the Union Finance Ministry issued detention order under COFEPOSA (Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974).

Rahul, against whom detention order under COFEPOSA was issued, is absconding.

"Two Customs officers of the Customs Preventive Commissionerate, Kochi, who were involved in gold smuggling cases were removed from service by Sumit Kumar, Commissioner of Customs (Preventive), Cochin," an official release said.

Kumar said that both the cases were booked and investigated by the Directorate of Revenue Intelligence and while show cause notice under Customs Act 1962 has been issued against Radhakrishnan, investigation is under progress in the other case.

"Both the officers were removed from service, after due process of law under Rule 19 of the Central Civil Services (Classification, Control and Appeal) Rules, 1965," the release said.

New Delhi, Mar 19: Senior Congress leader Oscar Fernandes on Wednesday extolled the virtues of 'gaumutra' and shared an anecdote about a man claiming to have cured his cancer by drinking cow urine to drive his point home.

Participating in a debate in Rajya Sabha on two bills for setting up national commissions for homoeopathy and Indian systems of medicine, the former Union minister said, "My extreme friend Jairam Ramesh pulls my leg, when I talk of 'gaumutra'."

Sharing an anecdote, Fernandes said once during a visit to an ashram near Meerut he had met a person who claimed to have cured his cancer by drinking 'gaumutra'.

Many BJP leaders have earlier spoken about the healing power of 'gaumutra'. The Congress has reacted sharply to such remarks.

He also praised the virtues of the Indian systems of medicine. He said when he had severe pain in knee joint and doctors had suggested for replacement surgery. However, he refused and started doing 'Vajrasana'.

"I started Vajrasana, practising yoga, and today I am able to do wrestling without any difficulty," the septuagenarian leader said.

"When (former) prime minister (Atal Bihari) Vajypee ji had a knee surgery, I thought if I had known him earlier, I would have definitely gone to him and ask him to follow 'Vajrasan' and it could have been cured," he said.

He also claimed to have met a person in US aged around 104 years and moving swiftly as a young man.

"Yoga is our wealth. If you practise yoga, may be our budget cost of health can be reduced by 50 per cent. It's way of life," he said.

"Our own Indian systems of medicine will provide a lot of reliefs even before going to a doctor," he said.

Though Fernandes supported the bills but raised objection over the exclusion of yoga and naturopathy.

"I would urge the minister either to amend the bill or bring an assurance that it will bring a separate legislation to cover yoga and naturopathy," he said.