Mulayam, CM Akhilesh attend Iftar party in Bangalore

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.

Bengaluru, Feb 9: Six persons, including three Nigerian nationals, have been arrested for their involvement in a fake kidney racket, through which they duped over 300 people, police said on Sunday.

The case was cracked by a Special Investigating Team (SIT) headed by Banasawadi, Assistant Commissioner of Police, Raviprasad. These people had duped scores of people, by misusing the name of a well known hospital located in Bengaluru.

New Delhi, Feb 12: Buoyed by the Aam Aadmi Party's stellar performance in the Delhi Assembly elections, the Maharashtra unit of the party has decided to fight all forthcoming local elections, including the Mumbai elections.

The AAP’s Bengaluru unit will also contest the municipal corporation polls likely to take place in August or September.

AAP National Executive Member Preeti Sharma Menon said the party will try to “replicate the Delhi model of pragmatism, performance, and people centric policies”.

“We are sure that Maharashtra will shower us with the same faith and love as Delhi has done so,” she said.

The party has decided to field candidates in all the 198 wards of the Bruhat Bengaluru Mahanagara Palike (BBMP).

"We have been planning to contest the BBMP election when we received a major shot in the arm. The Delhi victory happened because of the good work, which we want to replicate here," AAP's co-convener in Karnataka and party's BBMP campaign in charge Shanthala Damle told PTI on Tuesday.

Born out of an anti-corruption movement, the AAP led by Delhi chief minister Arvind Kejriwal registered the second landslide victory by winning 63 out of 70 seats in the Delhi Assembly elections.

According to Damle, AAP in Bengaluru was working in full swing to make its presence felt in the city. "The party has already done its ground workin terms of election campaign and reaching out to the people in Bengaluru," she added.

According to her, the party has already opened around 10 offices and about 50 people have been announced as the assembly president or ward president.

Last month, the party launched a 40-minute movie called 'Hosa Bengaluru' (New Bengaluru) and conducted 50 shows already.

"It shows the Delhi model and explains what can be done in Bengaluru. So that is part of our vision," the AAP leader said.

In its next level of the campaign, AAP intends to conduct 'Jana Samvada' (Dialogue with people) in every street and in every ward.

The preparedness of the party can be gauged from the fact that it has identified many of its candidates for the BBMP elections.

The party has never tasted success in Karnataka anywhere but the Delhi's success story has kindled a new hope as many people would now be waiting to join the AAP, Damle said. The AAP cadres in Bengaluru burst into celebration soon after it became clear that the party was going to script history by forming government for the third consecutive time since its inception.

Sporting their signature caps, party workers lit crackers, danced on the Delhi election song 'Lage Raho Kejriwal'.