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
July 26,2020

Kasaragod, Jul 26: First funeral, now wedding. Forty-three persons who attended a wedding at Pilankatta in Chengala panchayat in Kasaragod on July 17 have tested positive for Covid-19, said district medical officer (DMO) A V Ramdas.

They include the bride and the groom. Collector D Sajith Babu has asked all those who attended the wedding to go into home quarantine for 14 days. Those with Covid symptoms should get in touch with the nearest primary health centre, he said.

The DMO said samples of 128 persons linked to the wedding were tested, of which 43 turned out positive. Earlier, 44 persons who attended a funeral in Cherkala in the first week of July had tested positive. The funeral was declared a cluster and the government had to test 522 persons linked to the funeral.

The collector said those taking part in funeral or weddings without following the Covid protocol would be booked under the Kerala Epidemic Diseases Act. If convicted, they would face up to two years of rigorous imprisonment and a fine of `10,000. Kasaragod police said they will register a case in connection with the wedding. 

Pilankatta ward member Abdulla Kunhi K B said it was not a big fat wedding. The ceremony held at the bride’s house at Pilankatta was attended by less than 100 people, he said.“Theirs is a big family with four houses in one compound. 

As many as 30 members are staying in these houses,” said Kunhi. Nine of the 30 have tested positive.Of the 15 guests, who came from the bride’s mother’s house, 12 contracted the infection. “The rest of the infected persons were among the groom’s guests,” said Kunhi, who did not attend the wedding. The groom and the bride’s father returned from Dubai three months ago.

1,049: state records biggest recovery
A total of 1,049 Covid patients recovered on Saturday. This is the first time that the number of recoveries crossed the 1,000-mark in the state. The previous highest was 968 reported on Friday. So far, as many as 8,613 patients have recovered.

roping in ayush experts a challenge  
Plan to bring AYUSH practitioners for treating positive patients at CFLTCs is going to be a challenge for the government. It turned out that respective associations were planning to approach the government with an individual charter of demands. 

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News Network
January 24,2020

Bengaluru, Jan 24: On the last day of his four-day trip to Davos, Switzerland, to attend the World Economic Forum, chief minister BS Yediyurappa urged the global business community to invest in cities other than Bengaluru in the state.

On Thursday, while extending an invitation to entrepreneurs to participate in the Global Investors Meet in November in Bengaluru, Yediyurappa highlighted the “conducive investment climate” in the state vis-a-vis others by pointing to its 7% growth rate which is much higher than the national average of below 5%.

He also pointed to the state’s rich history and the fact that it is home to a number of desi MNCs such as Infosys, Biocon Wipro and Dynamatics. “At the same time, the state has one of the lowest unemployment rates compared to the national average,” Yediyurappa said.

In his address to heads of businesses, industries minister Jagadish Shettar also urged investors to consider Tier 2 and 3 cities for investment. “Land banks have been created in Tier 2 and 3 cities and regional connectivity has improved. Let us strive to place Karnataka on a highgrowth path,” Shettar said.

Lending a “helping hand”, Union minister Piyush Goyal, in his address, appealed to the community to invest in Karnataka, which “has a robust and congenial industrial atmosphere”, but also urged them to spread “tentacles” to all parts of the country.

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News Network
January 13,2020

Bengaluru, Jan 13: RSS leader Kalladka Prabhakar Bhat on Monday held a protest march at Ramnagar district’s 
Kapalabetta under the aegis of Hindu Jagran Vedike’s ‘Kanakapura Chalo’ campaign against the construction of the world’s largest Jesus statue there.

Hundreds of protesters of the Vedike staged a protest march in the city starting from the Kanakapura Ayyappaswamy temple.

“We are not here to disturb the peace. We have met each other at the wedding of Sriramulu’s daughter. So you know who I am, DK Shivakumar. How long will you continue with these lies? Is the intention behind the statue of Jesus to solidify your vote bank? Build the statue in America or England, we will not allow it here,” said the RSS leader as the keynote speaker at the rally.

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