The pandemic spread a shadow of gloom across the world. The dipping economy was inevitable due to a temporary cease in the operations for many businesses. Many startups had no choice but to wrap up their operations or sell their company. Pandemic led to the growth and expansion of majorly technology-based start-ups. The complete dependency on the digital mode of communication and technological integration in all sectors was a boon for some emerging technology startups in India.
Increase in Demand of Certain Domains During Pandemic
The world fought with the pandemic, millions of people lost their jobs, companies went bankrupt, and some employees continued to work under hefty pay cuts. However, confinement within the four walls of the house led to an increase in the demand for certain domains. The compulsory work from home spiked the demand for video conferencing apps to conduct meetings remotely. For example, Zoom saw a massive spike in its daily users post the pandemic announcement. Today, Zoom has ballooned to millions of users across the globe. There has been a staggering rise in its total revenue for this year. It is not only used by offices but even schools and educational institutions from across the globe.
There is a rising demand for data mining and Artificial Intelligence-based companies for data extraction, analysis, and IT development. The lockdown gave a massive blow to the physical retail segment but paved the way for e-commerce. There are many content creating startups that have gained positive growth during the pandemic. Creativity fueled during the pandemic led to the use of creative platforms for creating different online content.
Indian Startups that Did Well During the Pandemic
No matter how long COVID19 stays, these startups and their services will continue to be a part of the digital ecosystem. This means probably more growth and development of these startups. Here are some of the startups that excelled in India during the COVID situation.
Flock is a communication software company founded by Mr. Bhavin Turakhia. According to reports, its revenue has soared up during the pandemic by around 40% for the last three quarters. The company is an integrated communication platform that has helped establish a smooth channel of communication amongst team members virtually. It helps bring together the team on a conversation platform, make conference calls, and is integrated with professional, productive tools like note sharing, reminders, polls, etc. Flock has grown its revenue through its services purchased by other companies for effective communication.
The company had its fair share of struggle during the onset of the pandemic leading to pay cuts. However, with better business growth and an increase in revenue, the company could reinstate the typical pay structure without a pay cut. The startup is for the physical Kirana or small shop owners and provides POS billing software for these shops’ sales. The software helps the store owners to grow their business, increase sales, and streamline the overall billing process. The SnapOrder mobile app helps the shop owner upload the inventory list, receive the orders from customers, and continue the product sales.
It is a video-content creating platform which helps in creating engaging content. InVideo is ideal for business agencies, marketers, or even individual content creators, and the use of the platform has seen tremendous growth during the COVID situation. The in-built templates, easy customization, and download, help in creating professional content in minutes. The media companies and businesses have used the platform for creating visually appealing marketing and promotion content. This has helped in expanding the audience engagement and better digital promotion of products and services.
The company is a Chennai based start-up which has managed to grow and profit from its technology services during the pandemic. The Internet of Things (IoT) based startup integrates the SaaS platform for property management. It has done business and emerged during the pandemic by continued service of management and overseeing residential as well as commercial services.
It is one of the largest online education platforms in the country, and its use and subscriptions have been skyrocketing since the pandemic. The COVID situation has transitioned the brick and motor learning temporarily into online classes. As one of the largest learning platforms for students and with a robust network of highly experienced educators, more students are joining the platform since the pandemic. The education platform gives access to live and recorded classes virtually, making learning possible anytime and anywhere.
The online educational startup has gained seed funding and emerged successfully during the COVID situation. The platform offers classes and experiential learning to the students through Live Online sessions. With the sudden shift to remote and virtual classes, the online tutoring site has gained more students and subscriptions. The Ed-tech company has done exceptionally well by connecting experienced teachers to students for online learning. With real-time online guidance and virtual learning, its business and revenue have fairly increased.
The digital payment segment and industry has reached a new high during the pandemic. Most people relied on digital payments and businesses happily accepted it. Razorpay is one of the leading Indian startups that automates payout to employees or vendors. It helps businesses or stores to accept customer payments without a payment gateway or link. Razorpay and its revenue and growth have increased during the pandemic by offering payment collection services to businesses and startups. The company helps in accepting both national as well as international payments. It has shown accelerated growth during the pandemic time.
The COVID situation has increased the use of digital products and online presence. Most of the startups that adopted digital technology and online content marketing and started engaging their users via memes, videos and informative contents. You can use this tool to engage your users and immediately see growth of your brand/business during the pandemic.
The Ed-tech online startups have done well with focus driving on online classes and remote learning. The technology startups have grown by providing their services to other companies or organizations. E-commerce retail has expanded with an increase in online orders. These are some of the startup companies in India that have seen growth and expansion during a pandemic.