Firms in edtech, fintech and health tech sectors have reported a boost to businesses since the lockdown started Indian startups are bracing for the biggest shakeout in the country’s history as the coronavirus pandemic has shut down entire sectors of the economy, drying up revenues and funding.
Startups that set out to disrupt entire industries are themselves getting disrupted. Many have quickly pivoted to slashing costs and conserving cash from their mantra of “moving fast and breaking things".
Even before covid-19 struck, internet startups were facing a downturn but the pandemic has demolished any hope that they would manage a soft landing.