Jet Airways shares slump after reports of Etihad's non-binding offer

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.

May 1: India on Thursday called as "propaganda" certain social media posts from the Arab world alleging harassment of Muslims in several parts of the country in the name of containing the spread of coronavirus.

Strongly rebutting the charges, External Affairs Ministry Spokesperson Anurag Srivastava said the Gulf countries are deeply committed to friendly relations with India and they are even seeking bilateral talks on the post-COVID-19 economic recovery.

Talking about India's close and traditional ties with the Arab countries, he said New Delhi is ensuring uninterrupted supply of food and essential commodities to the region during Ramzan as part of its deep-rooted friendship.

Srivastava said the countries in the region do not support any interference in India's internal affairs.

"Much of what you see is propaganda by interested parties. Stray tweets can not be used to characterise our bilateral ties with these countries. The real picture of these relations is very much different," he said during an online media briefing.

There has been a wave of angry reactions on Twitter by leading citizens and rights activists from various Arab countries following allegations that Muslims are being blamed for spreading COVID-19 in several parts of India.

The Organisation of Islamic Cooperation, a powerful bloc of 57 countries, recently accused India of "Islamophobia". India rejected the charges as regrettable.

"We have been making special efforts to ensure uninterrupted supply of food and essential commodities which are required during the Ramzan period in these countries, and this is something which has been greatly appreciated. These countries also want a priority discussion with India on the post-COVID-19 economic recovery," Srivastava said.

Prime Minister Narendra Modi and External Affairs Minister S Jaishankar have been in regular touch with their counterparts from the region in the wake of the coronavirus pandemic.

"In these discussions, there have been requests for sending medicines and medical teams to these countries. We already deployed a Rapid Response Team in Kuwait. There is also a request to send doctors and nurses from India," said Srivastava.

"What comes out clearly is that these countries are deeply committed to friendly relations with India. They also do not support any interference in internal matters of India. It is, therefore, important that the friendly and cooperative nature of our relations is accurately recognised and the misuse of social media is not given credence," he added.

Asked about reports of an order issued by Oman's Finance Ministry asking all state-owned companies to replace foreign workers with qualified local Omanis, Srivastava said it is not aimed at Indians working in the Gulf nation.

"The policy is a decades-old one and not specific to India. It does not target the Indians in any way," he said.

There have been apprehensions that the order will render thousands of Indians working in state-run firms in Oman jobless.

"They greatly value relationship with India. Government of Oman is taking special care of Indians which included free testing for coronavirus, its treatment, providing food," the MEA spokesperson said.

Oman government is also extending certain categories of visas of Indians.

Srivastava said India has been in touch with its friends and partners across the world as part of the collaborative approach to dealing with the pandemic.

Bengaluru, Feb 13: Veteran freedom fighter and advisor to the Karnataka Government in Education Reforms HS Doreswamy on Thursday has recommended Chief Minister BS Yediyurappa to make it mandatory for MLA and MLCs to adopt at least three govt Schools in their respective constituencies.

Mr Doreswamy appealed to the Chief Minister to implement the suggestion in the State budget for 2020-21 to be presented by him on March 5.

Addressing a press conference here, Mr Doreswamy, on the higher education sector, stressed the need to appoint highly qualified candidates for Vice Chancellor posts. There is no dearth of talent and eligibility in the State and authorities concerned must ensure that the right person is appointed by taking extreme care".