IRCTC blocks debit card payment gateway for several banks

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.

Karwar, June 29: The additional sessions court, Sirsi town police station and office of the deputy superintendent of police in Uttara Kannada district were sealed on Sunday after an undertrial was found positive for Covid-19.

The undertrial, accused of stealing a bike, from Hubballi was arrested by Sirsi police and had initially tested negative. He was confirmed infected when his samples were tested the second time.

He was arrested by Dharwad police in connection with a bike theft case. During interrogation it was found that he had stolen bikes in Sirsi too. Sirsi police had brought him from Dharwad sub-jail for the interrogation and was produced in the court.

The accused was in Manipal jail for some time after he was convicted there for the bike theft. While bringing him to Sirsi the police had wore PPE kits.

When he was produced in the court the judge had reportedly directed the police test him for covid as he had some symptoms.

His swab was collected and sent to the lab. In the first test the result was negative but it was positive in another test. At that time he was in Sirsi sub-jail. 10 police officials who had come into his contact have been quarantined. The police station has been sealed down and the court will be closed down on Monday and Tuesday.

All the under trails who were kept with him in the sub-jail have been isolated and their swab has been sent for the testing.

Mangaluru, May 7: Thousands of migrant workers from Uttar Pradesh and Bihar, led by Congress leader Mithun Rai, staged a protest here on Wednesday demanding that they be allowed to return to their native places.

The workers started a protest demonstration opposite Mangaluru City Corporation office in the city. Police dispersed the crowd for violating social distancing norms.

The workers said they have nowhere to go and nothing to eat. Therefore, they are demanding to be sent back to their states. They however, had crowded together without following the social distance norm. 

In the wake of protest, prohibitory orders under section 144(3) were imposed in Dakshina Kannada district between 7pm and 7 am till May 17 to check the spread of Covid-19.