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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coastaldigest.com news network
July 23,2020

Udupi, July 23: A 70-year-old woman, who had tested positive for coronavirus, passed away last night in Udupi taking the district’s covid-19 death toll to 12.

The deceased was a resident of Chantharu in Brahmavar. She was an asthma patient. For past few days, she was suffering from cold and fever. 

Her throat swabs were sent for testing and the report came positive last evening. She breathed her last at home even before being shifted to hospital. 

The woman has two daughters and both of them are married. Due to the fear of virus, none of her relatives were ready to touch her body.

Meanwhile, Dr Premananda K of district health department reportedly sought help of the activists of Popular Front of India (PFI). 

Under the supervision of PFI’s medical wing in-charge Muneer Kalmadi, the body was shifted to the district hospital with all necessary precautionary measures.

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News Network
June 19,2020

Bengaluru, Jun 19: The Karnataka government has been advised by its Educational Advisor to cancel holidays observed in educational institutions on the occasion of various Jayantis (birth annivesaries).

Advisor to Karnataka government on Education, Professor MR Doreswamy, has recommended cancellation of holidays on Jayanti and celebrate the day with more meaningful programmes remembering the great personalities.

The state government has declared public holidays on Valmiki Jayanti, Basava Jayanti, Kanaka Jayanti, Mahavir Jayanti, Ambedkar Jayanti and Gandhi Jayanti.

On Thursday, Doreswamy submitted a report containing seven key suggestions including cancelling holidays, to Deputy Chief Minister CN Aswath Narayan, who holds higher education portfolio.

Doreswamy in his report suggested to hold thematic workshops, lectures, conferences and other such activities to celebrate the life and works of the great personalities, instead of declaring holidays.

"It would not only educate our youth about the significance of the great personalities to our culture and society and also reinvents the tradition of paying tributes to their contributions to our civil society,'' he said.

Dr Narayan said that the decision on cancelling holidays on Jayanti's has to be taken by Chief Minister BS Yediyurappa.

Moreover, to bring education back on track during the present COVID-19 pandemic situation, Doreswamy made a few suggestions to complete exams of final semester engineering and graduate students. He also said that it was a challenge for the education sector to overcome the pandemic crisis and structure the next academic year 2021-22.

He also advised implementation of a mentoring system in all higher education institutions in Karnataka and empowering specially-abled students.

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coastaldigest.com news network
May 27,2020

Kolhapur, May 27: Praising the Muslims of Ichalkaranji town in the Kolhapur district for making invaluable contribution for setting up of a new intensive care unit in Indira Gandhi Memorial (IGM) hospital for treatment of corona infected patients, Maharashtra Chief Minister Uddhav Thackeray has said that with this donation, they have set an ideal example before the country.

While dedicating a 10-bed ICU unit at IGM hospital online from Mumbai, during Eid al Fitr, Mr Thackeray said that by donating Rs 36 lakh for ICU unit at IGM hospital, the Muslim community has set an ideal example before the country as to how to celebrate the festival.

The Muslims of Ichalkaranji made the donation following an appeal by the state government about avoiding unnecessary expenses for celebrating the Eid.

Minister of State for Health Rajendra Patil-Yadravkar, MP Dharysheel Mane, MLAs Prakash Awade and Raju Awale, district collector Daulat Desai, district superintendent of police Dr Abhinav Deshmukh, Zilla Parishad chief executive officer Aman Mittal, district surgeon Dr B C Kempipatil and others were present on the occasion.

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