Help poor, needy by not cutting their salaries: Karnataka CM

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.

Malappuram (Kerala), Feb 19:  children of a couple in a span of nine years has raised suspicion among police personnel here who have registered a case following a complaint after a three-month-old child of the family died on Tuesday and was buried.

Police exhumed the body, which was buried in the morning, and took it to the district hospital at Tirur for post-mortem.

The infant was the sixth child of the couple, police said.

"A case has been registered (for unnatural death) in the matter to verify the death beyond any suspicion raised by locals since five other children of the couple had died in the past nine years," a senior police official said.

The couple had three boys and three girls of which the third girl child lived till the age of four and the rest died before turning one.

"The post-mortem will take place today itself.We are collecting the medical records of the children who had passed away earlier.

We will identify the cause of death after analysing the records and discuss the matter with forensic doctors," Tirur Deputy Superintendent of Police (DySP) said.

However, relatives claimed that there was nothing suspicious in the death of the children and that doctors have said it was due to some genetic disease.

"The post-mortem of the third child was conducted and the doctors said the death was due to some genetic problems. They said they were helpless," a relative said, adding that the family was ready to face any probe.

According to the locals, the couple had claimed that the children have died due to epilepsy.

Sources said the baby was taken to a hospital but was dead prior to reaching the hospital early this morning.

Bengaluru, Mar 21: Karnataka Deputy Chief Minister CN Ashwath Narayan on Saturday said that all the IT companies in the state have agreed to close their offices and have also allowed some employees to work from home in the backdrop of the coronavirus pandemic.

"IT companies agreed to close their offices and allow employees, except for those discharging essential services, to work from home during a video conference with companies' representatives yesterday," said Narayan.

The Deputy Chief Minister said a circular regarding it will be issued soon.