Udupi: 96-year-old dies in note exchange queue before a bank

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, Jan 25: Karnataka Health Minister B Sriramulu on Friday, hit out at JD(S) leader HD Kumaraswamy, accusing the former Chief Minister of pursuing "vote bank" politics and advised him to move to Pakistan.

"It is better to move to Pakistan...if he shows so much love towards Pakistan, why should he live in India? He should not do dual politics like this. He wants to be fair to Pakistan and also to India," Sriramulu said.

Terming it as "double standards", the Minister said: "From so many years, you have been doing vote bank politics. You have to understand one thing...you are the son of former Prime Minister and also a former Chief Minister. By giving these type of statements, I think it will hurt the citizens of India. If you want to do vote bank politics I must suggest that it is better to leave the country."

His statement comes after Kumaraswamy took a jibe at BJP over its "obsession with Pakistan".

Bengaluru, Feb 12: Karnataka Sanghatanegala Okkoota, a congregation of various pro-Kannada organisations, has called for a state-wide bandh in Karnataka on Thursday (13 February 2020) demanding reservation in jobs for Kannadigas in both government and private sectors.

The Karnataka bandh, which will begin from 6 am to 6 pm, is likely to impact life in Bengaluru as well as in other parts of the state. Interestingly, Ola and Uber drivers have also extended support to the bandh. 

In Bengaluru, some other drivers’ associations, including Jai Bharatha Vehicle Owners and Drivers Association and Adarsha Auto and Taxi Union have also supported the bandh.

It is not yet clear as to whether the Karnataka State Road Transport Corporation (KSRTC) staff and workers associations will back Thursday’s bandh.

Several other organisations like the Karnataka Film Chamber of Commerce (KFCC), Centre of Indian Trade Unions (CITU), and Lorry Owners Association have supported the February 13 bandh.

In view of the bandh call, schools, colleges and hospitals across Karnataka are likely to remain closed on Thursday.

The Sarojini Mahishi report, which in 1984 suggested that Kannadigas should be given some reservation in jobs in private companies, public sector undertakings and multinational companies, is yet to be implemented.

It is to be noted that Sarojini Mahishi, a four-time MP and Janatha party leader, was appointed by the Ramakrishna Hegde government to head the panel in 1983. The committee submitted an interim report in June 1984. However, a final report was tabled in December 1986 with 58 recommendations, of which the Karnataka government had accepted 45.