Soaring Indian Startups during Covid19 pandemic


Photo by Karolina Grabowska on Pexels.com

In the era of pandemic many Indian startups shut down their business due to many reasons like unavailability of funds, skills, change in work culture, unable sustain in current situation due all these reasons. In lockdown many Indian startups lose their business in many sectors like Entertainment, Parking, and Hospitality etc. But this difficult year also beneficiary for some sectors like Healthtech, online edtech, nutrient consultation etc.

The top sectors which gain the maximum number of funding deals between January to November 2020 are fintech and financial services (123), ecommerce/retail (99), edtech (84), healthtech (80), and enterprise software (42). These sectors contribute around 56% of total funding deals in Indian startups ecosystem.

11 Indian startups including RazorPay, Unacademy,  DailyHunt and Glance became a unicorn this year.

Despite Covid pandemic Indian startup raised sufficient funding from investors. Compared to their record $14.5 billion fundraise last year, Indian startups are ending 2020 with about $9.3 billion. This is the first time since 2016 that startups in India, one of the world’s largest startup communities, has raised less than $10 billion in a year, according to consultancy firm Tracxn.

When most of Indian startups are facing problems, some startups and sectors are booming during the lockdown and established themselves in the market. Use of innovative technology and new lifestyle these startups create new opportunity. Many startups in the field of Software as a Service (SaaS), HealthTech, Online gaming, nutrient and fitness, and education coaching are well established in the market.

Some of startups like BIJUS, Unacademy in education sector, Khatabook and Pagarbook app in financial and Startups like Khatabook Manage your Business & Personal ledgers on your phone and computer. PagarBook is the another startups which helps small to medium sized enterprises keep track of their staff attendance, salary, & bonus in an easy-to-use mobile app. PagarBook has raised a total of $17M in funding over 2 rounds.

Fittr is other community based startups founded in January 2016 by Jitendra Chouksey, here people can discuss, share and explore opportunities in health & fitness industry.

InVideo has raised $30.4M funding from investor in 5 rounds, from these 3 funding rounds in 2020 only. InVideo is the video creation platform to create video ads, promo videos, social media videos and more. InVideo comes power-packed with an extensive library of 4000+ templates, a full-fledged editor, millions of stock videos and images, effects and more.

Developer tools startup LambdaTest raised funds in 2020 from venture funds like Surge, Blume, Leo Capital, others. LambdaTest build cloud infrastructure for the developer and tester community globally. As per startup’s announcement it has more than 350,000 users across 132 countries, it has presence from individual clients to big enterprise like Xerox, Cisco, Deloitte and Coca-Cola.

Indian Supply Chain industry startup Shipsy raised $6 million in December 2020. Shipsy Track solution is designed to manage the day to day tracking of container movements. A software that reduces overall supply chain costs with improved collaboration and visibility.

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