Startups in India raised $12.7 billion in funding in 2019, Bengaluru tops the list

News Network
January 15, 2020

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.

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News Network
January 30,2020

Bengaluru, Jan 30: There are around 3 lakh Bangladeshis across Karnataka and around 3,000 of them left Bengaluru following the recent crackdown, according to Bhaskar Rao, Bengaluru city police commissioner.

It's the first time a high-ranking official has put a number to Bangladeshis in Karnataka following the debate over the new citizenship law.

At a conclave on 'Construction Workers Safety, Health and Welfare' organised by the labour department and IIMB here, he said the estimate was arrived at based on information sourced from Bangladeshis deported recently.

There's been no study to ascertain the Bangladeshi population in the state, Rao said, adding that most illegal Bangladeshis in Bengaluru are victims of human trafficking.

"They come to Bengaluru for employment. Unlike other cities, Bengaluru has a lot of job potential and pays good salaries too. There are a lot of Bangladeshis working in the construction industry," Rao said.

Workers from Bangladesh demand lower wages. While other labourers demand around Rs 500 to Rs 600 per day, Bangladeshi workers don’t complain about being paid around Rs 100-150,” Rao said, adding that this has encouraged human traffickers to increasingly bring in Bangladeshis.

Suresh Hari, chairman, Confederation of Real Estate Developers Association of India, however, said they’re not aware of the nationality of their workers as contractors bring workers registered for tasks. “It’s difficult to say where they are from as there’s also construction work outside Credai’s purview,” Hari said.

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Media Release
January 23,2020

Mangaluru, Jan 23: With the results of Joint Entrance Examination (JEE-Main) out, it is celebration time at CFAL (Centre for Advanced Learning), Mangalore’s top training institute as 12 of its students have secured above 99 percentile, out of 120 students who appeared at the prestigious national examination held in January this year. The students are: Kaustubh Rao (99.79), Ujwal Kumar (99.77), Dheeraj Kamath (99.74), Pramod Rao (99.68), Santhosh M (99.59), Mohan Nayak (99.49), Rihan D’silva (99.43), Rishan D’silva (99.41), Pranav Rao (99.41), Aamod BK (99.29), Anmol J Shetty (99.22) and Madhura Sabhahit (99.083).

Apart from the above students, 8 students have scored above 98 percentile, the details of the students are: D.K. Goutham (98.67), Tejah S.S. (98.49), Akash Shetty (98.4), Tejas Bhat K (98.34), Ninaad PS (98.31), Shreepoorna Rao (98.3), K. Annapoorna Prabhu (98.3) and Rakshith Sajjan (98.2). The results of many more students are awaited.

A total of 8,69,010 students had appeared in the said exam from across India. The students who have attempted the JEE Main exam in January can attempt the exams again in April to better their percentile. Students who clear JEE Main qualify for JEE Advanced and are eligible for seats at the NIT’s and other top institutions of the country.

JEE – The most challenging undergraduate admission test

Joint Entrance Examination (JEE) conducted this year by National Testing Agency (NTA) is a national level examination for students to qualify and pursue engineering degree at under graduate level. Paper 1 is held for BE/B.Tech admissions and Paper 2 for B. Arch/B. Planning. JEE Main is a critical criterion for admission in India’s most prestigious and elite universities like IITs and NIT’s.

Those students who clear JEE Main can take the JEE advanced – which is a pre-requisite requirement for admission in the Indian Institute of Technology and Indian School of Mines (Dhanbad)

CFAL – The first name in training

The training at CFAL consists of defined hours of classes, tests and mock exams, unique course material, experienced professors and hence is the first choice for students appearing for STEM examinations including JEE, NTSE, KYPY, OLYMPIADS etc.  The centre was established with the intention of giving students of Mangalore information, guidance and tools required to qualify the competitive exams. However, the main aim of CFAL is to inculcate passion for Math and Science learning among students and to encourage research and innovation in the subjects.

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News Network
April 20,2020

Bengaluru, Apr 20: Karnataka Chief Minister BS Yediyurappa on Monday came down heavily on Congress legislator BZ Zameer Ahmed Khan over the Padarayanapura vandalism that saw a mob run amok against efforts to quarantine suspected COVID-19 persons late on Sunday evening. 

Khan, who represents the Chamarajpet constituency where Padarayanapura is located, said that authorities should have gone to the area during day time.

“Who is he to say that? What does he have to do with this? Why should we ask him? Should we get his permission to carry out government work? Instead of saying that action should be taken, he is speaking like this. Should we then think that he incited the mob? This is the height of being irresponsible,” Yediyurappa said. 

Following the violence, the police have arrested 54 persons and “five more will be arrested,” Yediyurappa said.

Khan clarified that he did not defend those who indulged in vandalism. “I condemn the incident and action should be taken. I’m not saying officials shouldn’t have gone. My point is that they should’ve gone during the day and by creating awareness beforehand that people need to be quarantined,” he said, adding that the BBMP had identified 57 people to be quarantined in Padarayanapura. 

“People in this area are poor, uneducated and are mostly coolie workers and daily wagers. But whatever happened was wrong,” Khan said. He also pointed out that he was the one who arranged for 80 people to be quarantined in Tipu Nagar. 

Yediyurappa said the Padarayanapura incident was unprecedented. “In the entire state, never had such incidents taken place. Everybody agrees this is unacceptable,” the CM said. “Whoever breaks the law - Hindu, Muslim, Christian or anyone - should face action,” he said.

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