: Amid pandemic, while most Indian startups are struggling for funds, four have become unicorns #IndiaNEWS India’s economy has plummeted to record lows in recent months due to coronavirus-linked lockdowns.

Amid pandemic, while most Indian startups are struggling for funds, four have become unicorns #IndiaNEWS
India’s economy has plummeted to record lows in recent months due to coronavirus-linked lockdowns. Yet, there are some bright stars in the country’s booming tech startup space.Four Indian tech startups became unicorns, or private companies valued at over billion, in the middle of the pandemic, according to a report released by consulting firm Zinnov on October 14. These ventures – online beauty products retailer Nykaa, tech firm Postman, education startup Unacademy and fintech firm Razorpay – now take India’s total unicorn count to 33. The average time for an Indian startup to become a unicorn is roughly six years now, Zinnov said.But beyond the big-billion club, several Indian startups are struggling because of the pandemic.Covid-19 challengesThe virus outbreak and the nationwide lockdown that ensued have thrown up funding and business continuity challenges for many in the Indian startup ecosystem. More than half of Indian startups are struggling to raise fresh funds, Zinnov said. The overall investment in Indian startups has been declining since April, when the coronavirus outbreak started in India. For a handful of startups, though, the pandemic has come as a blessing in disguise.Startups that benefitted from Covid-19With schools, colleges, and other educational institutions shut due to the pandemic, online education has caught on like wildfire in India.Indian ed-tech startups have seen their paid users...Read more

Stock Market NEWS Best intraday tips Intraday Stocks below 100