Top 5 Indian Startups that rose to fame amidst Covid 19 Pandemic in India

5 Indian Startups that rose to fame amidst Covid 19 pandemic

2020 has been a year of upheaval as the COVID-19 pandemic swept across the globe, upending both business and personal plans. At the same time, for many startups, COVID-19 came as a blessing in disguise. These difficult times not only enabled them to pivot their business operations, but also grow their business.

Following startups are on an upward growth spree and setting excellent examples –

1. Zomato 

Foodtech Unicorn Zomato has delivered a total of 9.2 crore orders since March 23, 2020, and claims to have zero reported cases of COVID-19 transmission through food delivery, or through the food delivery agents, Zomato’s Founder and CEO Deepinder Goyal announced in a tweet.

According to him, “Food delivery is one of the safest recreational options available to our customers during the pandemic. Going forward, we anticipate the food delivery sector to continue to grow at 15 to 25 percent m-o-m for the foreseeable future,”

The company was last valued at $3.6 billion following $195 million in funding in November.

2. BYJU  –

BYJU’S began in 2011 as an offline tutorials company by the name of Think & Learn Pvt Ltd. The founder would travel across cities and conduct live classes with tens of thousands of students in auditoriums and stadiums. However, its growth has been one of the most prominent narratives of the pandemic.

It has acquired a number of companies, one of them is WhiteHat Jr, a 2018-founded startup, which, after just about 18 months of operations, got acquired by Indian edtech decacorn BYJU’S for $300 Mn, the biggest acquisition deal in the Indian edtech sector to date.

It raised $800 million in 2020 and its valuation surges to $12 billion

3. Urban Clap (Urban Company) –

Urban Company, formerly known as Urban Clap, provides access to home services like repairs, servicing of appliances, and pest control by trained professionals through its platform.
The home services startup invested in technology, offered comprehensive partner training modules for its staffers to ensure safety protocols are adhered to and won over newer customers with fresh services. It acquired 33% of new customers during the coronavirus-induced lockdown.
Its revenue had more than doubled to Rs 216 crore in FY20 over the previous fiscal, while the net booking value of all transactions through the Urban Company platform grew 138 percent year-on-year to Rs 918 crore in FY20.

4. Bigbasket –

BigBasket signed up new customers during the pandemic as people banked on e-grocers to shop for essentials and restricted movements were imposed. Their number of new customers increased 84% compared to the pre-Covid levels while the retention rate grew by 50% against the earlier 30% – 45%.
BigBasket co-founder and CEO Hari Menon said the company hired over 12,000 persons in 16 days to meet the surge in demand as a large number of people started turning to digital platforms to shop for grocery items amid the lockdown.
In a recent development, Tata Digital, the vertical within the Tata Group which is focussed on the company’s super app ambitions, is reportedly in the ‘last leg’ of closing out the acquisition deal for Bengaluru-based online grocery unicorn BigBasket. The company was said to be considering an investment of about $940 Mn-$950 Mn in BigBasket for 67% stake

5. Pharmeasy –

Launched in 2015, PharmEasy offers services including online medicines, healthcare products and booking lab tests in more than 1000 cities.
Pharmeasy is backed by Singapore Temasek Holdings, LGT Group and the Canadian pension fund CDPQ. In September, the Competition Commission of India (CCI) had approved the merger of online pharmacy Medlife with PharmEasy.
PharmEasy was valued at around $700 Mn when it raised $220 million, led by Temasek last year. PharmEasy also counts venture capital firm Orios Venture Partners and Eight Roads as its early backers.

Conclusion –

The Indian Startup culture has now taken a new route with Atmanirbhar Bharat Abhiyaan or Self-reliant India campaign, which is a vision of a new India envisaged by the Hon’ble Prime Minister Shri Narendra Modi. With initiatives like Make in India, VOcal for Local, the objective is to boost startup culture and create an environment of entrepreneurship in India.

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