‘Unrest in Dakshina Kannada may affect investments flow into Karnataka’

Mangaluru, Jul 22: As many as 184 people from Karnataka stranded in UAE arrived at Mangalore International Airport.

According to sources, the chartered flight, which landed on Tuesday night, was arranged by the UAE Karnataka Cultural Foundation and Beary Cultural Foundation for Kannadigas who had been stranded following the lockdown and also those who had lost their employment.

A team of officials with Puttur Assistant Commissioner Yathish Ullal and Horticulture Department Assistant Director Praveen who were in charge of quarantine facilities for international passengers verified the documents and sent them for institutional quarantine.

Of the 184 passengers, 141 had remained quarantined in Mangaluru while 42 left for Udupi and one to Honnavara in Uttara Kannada, said sources.

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 21: Karnataka Chief Minister's political adviser MP Renukacharya has courted controversy yet again with his remarks targeting the Muslim community at a pro-CAA rally in Karnataka on Monday.

Addressing a rally in support of the new citizenship law, the BJP lawmaker accused Muslims of collecting weapons in mosques instead of praying. "There are few traitors who sit in a masjid and write fatwas. They collect weapons inside the mosque instead of praying. Is this why you want a Masjid," Renukacharya said on Monday.

Renukacharya said he won't hesitate to use the money allotted to Muslims for Hindus. "I will resort to such politics in my taluk where the money allotted for Muslims can be used for Hindus. I will put you [Muslims] in your place and show what politics is," said Renukacharya, who is a close aide of CM BS Yediyurappa.

This is not the first time a Karnataka BJP leader has made communal remarks targeting the minority community. Earlier, BJP MLA Somashekar Reddy had made controversial remarks at a pro-citizenship law protest in Ballari when he asked those opposing the Citizenship (Amendment) Act to think of the "consequences" if the majority community members hit the streets against them.

The MLA had said, "If you do any drama, then if 100 per cent people come, understand what will be your situation. Congress people are lying to you, believing them you are coming on streets. We are 80 per cent, you are 17 per cent, if we react, what will be your situation? Be careful," Reddy had said.

Following outrage, a case was filed against Somashekar Reddy for alleged provocative speech targeting those protesting against the amended citizenship law.