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 10,2020

Bengaluru, Jul 10: Karnataka Chief Minister BS Yediyurappa has quarantined himself at his personal residence after three persons posted at his official residence 'Krishna' tested positive for COVID-19. The Chief Minister, who held a cabinet meeting and also visited Karnataka's largest COVID-19 care centre on Thursday, has cancelled all his engagements scheduled for Friday.

In a statement issued on Friday afternoon, Yediyurappa said that he was healthy and will continue to work from his residence. The Chief Minister will remain in home quarantine till next week as protocol mandates. Three persons -- an electrician, a standby driver and a pilot vehicle staffer -- have tested positive for COVID-19.

"Since a few staff at my official residence Krishna have tested positive for COVID19, I will be working from my personal residence for the next few days. I will hold meetings, consultations and issue orders and suggestions via video conferencing. There is no need to worry. I am healthy. I appeal to everyone to take all precautionary measures and follow protocols issued by the government. Wear masks and ensure social distancing and help us contain COVID19," a statement from the Chief Minister said.

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News Network
January 30,2020

Mangaluru: The police team investigating the case of bomb planting at the international airport here on January 20, took suspect Aditya Rao to several places in the city where he had frequented in the past few months, police said on Wednesday.

Police had earlier recovered a box from his bank locker at Udupi that contained a white powder which he claimed was cyanide. The substance has been sent to the Forensic Science laboratory for confirmation.

On further interrogation, Rao told police that he had a locker in a bank in Mangaluru also, where he was taken. Only some papers were seen in the locker, police said. He was also taken to the room where he stayed while he was working at a hotel in Balmatta here and to a hardware workshop from where he had purchased some spare parts, they said.

A 'live' explosive device was found in an unattended bag near a ticket counter of the departure gate of the airport here on January 20, triggering a scare before it was defused at a nearby open ground.

Police had released a picture of a man captured on CCTV camera as the suspect who placed the bomb and Rao later surrendered. Meanwhile, sources said the airport authorities got an anonymous call on Monday evening that a bomb had been planted in the airport. After thorough search, it was found to be a hoax. City police commissioner P S Harsha has warned of stringent action against those who make such calls.

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News Network
January 24,2020

Bengaluru, Jan 24: After Honnalli legislator MP Renukacharya, Ballari City MLA Somashekara Reddy and deputy chief minister Govind Karjol, it appeared the turn of revenue minister R Ashoka to show the BJP in poor light with controversial and provocative comments against a minority community. This, despite a gag order issued by state BJP president Nalin Kumar Kateel.

Responding to questions on the Mangaluru International Airport bomb scare incident and how the main accused would have been treated had he been a Muslim, Ashoka on Thursday said "all anti-nationals must be shot dead". Meanwhile, Renukacharya, also a political secretary to chief minister BS Yediyurappa, continued his tirade against Muslims, insisting the government will not extend any "special package" to the community.

Soon after garlanding the statue of Netaji Subhas Chandra Bose on the birth anniversary of the freedom fighter, at Vidhana Soudha on Thursday, Ashoka said: "All those who are singing the tune of Pakistan and indulging in anti-national activities, be they Hindu, Christian or Muslim, must be shot dead."

Asked to respond to former chief minister HD Kumaraswamy’s accusation that the entire Mangaluru bomb incident was stage-managed by the BJP government to divert attention, Ashoka said the JD(S) functionary "must measure his words" and not speak "like a film director who can project the police as villainous all the time".

"Kumaraswamy is a former CM. When in power, police were his closest friends, but now that he is not in government, the same police are villains," Ashoka said.

The minister reiterated the government’s stand — first floated by home minister Basavaraj Bommai —

that Aditya Rao, the main accused in the Mangaluru bomb incident, is "mentally unstable" and needs to be medically examined.

Renukacharya, meanwhile, justified comments made on Wednesday that the government will not offer Muslims "a special package".

"When they [Muslims] need development funds, they come to us and seek special packages. Once they get funds, they then vote for Congress or JD(S) in elections," Renukacharya said on Thursday. "We do not need people with such double standards. I will apply pressure on all ministers in the cabinet and even the chief minister to ensure they do not allocate any special package for the community."

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