Local residents bring Suratkal-Kana-MRPL road to a standstill

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.

Mangaluru, Mar 1: A youth lost his life in a lift crash at a wedding hall at Kallapu near Thokkottu on the outskirts of the city today. 

The deceased has been identified as Hamzah (30), a resident near Thumbay, who was part of the catering team hired for the marriage ceremony. 

The tragedy occurred at around 2 p.m. when Hamzah was getting ready to bring utensils and other things by lift from the third floor of the hall. All of a sudden, the lift’s ropes came loose and Hamzah lost his balance and got trapped inside.

He was pulled out and rushed to a hospital in Deralakatte, but he breathed his last on the way. He is survived by his wife and three children.

Mangaluru, Mar 14: About 80 centres to check people for fever, cold, cough and other symptoms related to the novel coronavirus (COVID-19) have been set up in the city, health officials said here on Saturday.

According to sources in district health department, apart from the testing centres at Wenlock District Hospital and Lady Goshen hospital, six centres in community health centres, 66 in primary health centres (PHC) and four in the taluk hospitals have been opened for people to get themselves checked if they show any COVID-19-related symptoms.

Two other testing centres are already working at the city’s airport and seaport.