First Haj flight from Mangaluru takes off

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 15: The on-going process to select a new Karnataka Pradesh Congress Committee (KPCC) president is likely to drag on for few more days with former CM and opposition leader Siddaramaiah making a strong pitch for former minister MB Patil over DK Shivakumar for the post.

Siddaramaiah, who met AICC president Sonia Gandhi and other senior Congress leaders in New Delhi on Tuesday, reportedly argued in favour of Patil, saying his elevation would help the party win Lingayats to the fold.

“Yediyurappa, the undisputed leader of the Lingayat community, is almost at the end of his career and it is an opportunity for the Congress to gain the confidence of the community. Being a leader from North Karnataka, Patil fits the bill perfectly,” Siddaramaiah reportedly told Sonia.

Siddaramaiah is said to be backing Patil over Shivakumar as he is worried about losing his hold over the state unit, given Shivakumar’s popularity. While Sonia did give the former CM a patient hearing, she is said to have told him that he should obey and cooperate with whatever decision high command takes.

The high command is looking to evolve consensus on the new state president. “Sonia’s meeting with Siddaramaiah is part of this exercise. She wants to keep everybody in the loop,” said a functionary.

Siddaramaiah also met senior leaders Ahmed Patel and AK Anthony. He is expected to meet former AICC president Rahul Gandhi on Wednesday.

However, some including Mallikarjun Kharge and Shamanur Shivashankarappa have expressed reservations against Patil’s elevation, pointing to his role in the controversial separate Lingayat religion issue which dented the Congress’ prospects in the 2018 assembly polls.

“He has a very bad name among Lingayats and making him president would prove counter-productive. Moreover, it is difficult to win back Lingayats as long as Yediyurappa is active in politics,” said a senior Congress leader.

Another functionary said a majority of state functionaries — and even some in the high command — favour Shivakumar as he is not only “resourceful”, but also has momentum. “With HD Deve Gowda and HD Kumaraswamy losing popularity among Vokkaligas, the possibility of the community backing Shivakumar is high. This may land him the top job,” the functionary said.

Bengaluru, May 17: Left to itself, Karnataka will look to spring back towards normalcy under Lockdown 4.0 as the state government is on standby to resume public transport services from May 18, if the Centre allows it. 

Though KSRTC and BMTC have been preparing for resumption of services, officials in the two corporations told DH that they cannot make a move till the government makes a decision.

Transport Commissioner N Shivakumar said the department will take a decision based on the state government's orders. "The government will take a call on buses as well as taxi and other transport services," he said.

Senior officials in the state government said Deputy Chief Minister and Transport Minister Laxman Savadi has written to Union Minister for Road Transport and Highways Nitin Gadkari seeking a nod for resumption of the services. 

Transport Secretary Gaurav Gupta has written a separate letter to his counterpart in the Union government requesting permission to operate public transport. "The state government wants the services to open. The official has listed out the steps the corporations will take to ensure social distancing other steps that will be taken to check spread of Coronavirus," a source said.

The B S Yediyurappa administration has been bullish on easing lockdown restrictions. 

If the Centre empowers the states to define Lockdown 4.0, Karnataka is likely to do away with the red-orange-green zoning of districts and allow public services to resume, except in COVID-19 containment zones. The government is also likely to redefine its containment strategy by micromanaging localities where COVID-19 cases are reported, without letting life in an entire district get affected. 

The government has already shown willingness to allow hotels and gyms to open after May 17 subject to social distancing norms and restrictions. In fact, the government has proposed to allow the resumption of all economic activities in standalone establishments. The government, however, is not keen on opening malls, theatres, diners and establishments that have centralized air conditioning. 

“Everything depends on the Centre,” Deputy Chief Minister CN Ashwath Narayan said. “Our only stand is that the red zone should be treated at par with the other zone when it comes to relaxation.”