India's unemployment highest since 2016, climbs to 7.2% in Feb

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.

Bhatkal, Mar 24: Two people, who arrived from Dubai at Mangaluru International Airport on March 21, were tested positive for coronavirus.

A 40-year-old man has been tested positive for the dreaded killer disease Covid-19 while 65-year-old man, who arrived on same day from Dubai, has also been tested positive for the virus. The person reportedly took train from Mangaluru to Bhatkal after arriving at Mangaluru International Airport.

Both of them hailed from Bhatkal and are currently hospitalised and their direct contacts are being traced by the authorities.

Bengaluru, Mar 26: Karnataka government has warned strict penal action against landlords or house-owners under provisions of law for forcing doctors, paramedical staff and healthcare professionals to vacate their rented residences citing COVID-19 spread through them as the reason.

Stating that lot of complaints have been received in this regard, an order issued by Additional Chief Secretary Health and Family Welfare department Jawaid Akhtar said such behaviour amounted to obstructing public servant in discharging their duties./

Noting that the state government has issued Karnataka Epidemic Diseases (COVID-19) regulations 2020 for prevention and containment of the virus, it directed Deputy Commissioners of the district, Commissioner and Joint Commissioner of BBMP (civic body in Bengaluru), Commissioners of Municipal Corporations and District Deputy Commissioner of Police to take action against such incidents.

"Strict penal action should be taken against such landlords or house-owners under relevant provisions of law and submit an action taken report on a daily basis to the office of Additional Chief Secretary, Home Department," the order read.