Puttur girl Aneesha Nayak wins bronze at international science fair in the US

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, Feb 5: ‘Forum for the justice of December 19 Mangaluru firing victims’ has demanded that the policemen who are responsible for the death of two innocent men in Mangaluru one-and-a-half months ago should be booked for homicide. 

49-year-old Abdul Jaleel Kandak, a father of two, and 23-year-old Nausheen Kudroli, were killed in an arbitrary and unwarranted police firing during a disturbance occurred due to police baton charge in the city on December 2019. 

Addressing a press conference, Forum’s convenor Abdul Jaleel Krishnapur said that a judicial inquiry commission should be set up to probe into the police firing which claimed two lives and injured many other innocent civilians.  

“Already a murder case should have been filed against the policemen who opened fire on the people.  Instead, false cases have been booked against many innocent people including the victims. This is a blot on the society,” he said. 

He urged the government to direct the police department to drop false charges registered against the victims and take necessary action against the culprits in khaki. 

He said that the Form demands Rs 25 lakh each compensation for the kin of the two men murdered by the police and Rs 15 lakh compensation for those who injured in police firing on December 19.

Mangalore, Jan 12: City police on Sunday arrested five people for their alleged involvement in a Rs 50 crore fraud by promising people higher monetary returns.

Police said that the arrested persons are Manjunath Nayak, a resident of Derebail; Denzil Mascarenhas, a Konchady resident; Ashok Naik, a Derebail resident; Vikas Nayak and Vishwanath Naik both residents of Bengaluru were arrested.

The arrested were employed in the ‘Speak and Group’ concern, started by Dhanush M K of Kundapur along with his friends. The firm had managed to collect huge sums of money from people, including NRIs by promising monthly four percent returns on their investment. The employees managed to entice people by showing them a few insurance schemes claiming higher returns.