Muslims in Mangaluru, Udupi, Kerala to observe Eid-ul-Adha on Sept 12

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.

Bengaluru, Jan 7: Karnataka Chief Minister BS Yediyurappa on Monday said the much-awaited cabinet expansion will take place in about a week to 10 days and that he wants to complete the exercise before his proposed visit to Davos to attend the World Economic Forum meet later this month.

"Cabinet expansion has to be done in a week or 8-10 days. There is also information that Amit Shah will be coming to Bengaluru on January 16 or 18. Before that I will go to Delhi and get things cleared and will expand the cabinet at the earliest," Mr Yediyurappa said.

Speaking to reporters in Bengaluru, he said he wanted to complete the exercise before his Davos visit.

"I will make all efforts to expand the cabinet before that," he said.

With Mr Yediyurappa making it clear that 11 of the disqualified JDS-Congress MLAs who got re-elected in the December 5 bypolls on BJP tickets will be made ministers, lobbying has been on within the party for the remaining ministerial berths.

Currently, there are 18 ministers, including the Chief Minister, in the cabinet that has a sanctioned strength of 34.

Cabinet expansion will not be an easy task for the Chief Minister as he will have to strike a balance by accommodating the victorious disqualified legislators as promised and also make space for the old guards, upset at being "neglected" in the first round of the induction exercise.

He also has to give adequate representation to various castes and regions in his cabinet and also deal with the allocation of key portfolios.

The Chief Minister, who has indicated that the ministry expansion may take place any time after Sankranti, is likely to travel to Davos on January 20, according to sources.

BS Yediyurappa, along with Union ministers Piyush Goyal and Mansukh Mandaviya, as well as Chief Ministers Amarinder Singh, Kamal Nath, are expected to join over 100 Indian CEOs at Davos in Switzerland later this month for the WEF's 50th annual meeting, which will be attended by thousands from across the globe.

New Delhi, Mar 11: In the wake of the ongoing political crisis in Madhya Pradesh, Puducherry Chief Minister V Narayanasamy on Wednesday said that Bharatiya Janata Party is using Jyotiraditya Scindia to usurp power in the state and that the former Congress leader has "fallen into the trap."

"#BJP is enacting the strategy the way they did in #Karnataka. It is murder of democracy #JyotiradityaScindia has fallen into the trap. He will realise the himalayan blunder very shortly. BJP after using #Scindia will through (throw) him out. I am confident Shri Kamalnath prove majority," he tweeted.

The Chief Minister's comments came at a time of political turmoil in Madhya Pradesh after Scindia and 22 MLAs resigned from the party on Tuesday.

Scindia is likely to join the BJP today.