Over 50% tech startups expect their revenues to reach pre-Covid-19 levels in six months: Survey
Edtech, fintech, and health-tech startups reported a faster recovery, owing to strong demand due to the Covid-19 pandemic
A little over half of all technology startups in India expect their revenues to reach pre-Covid-19 levels within the next six months, driven by increased digital adoption and investor interest in backing early-stage startups, according to a survey.
Recovering revenues and higher funding has also extended runways for tech startups, with 43% respondents in a survey conducted by industry lobby group Nasscom reporting that they now had cash to sustain their businesses for over six months.
This is an improvement from when just 8% of startups had said that they had a runway of over six months in Nasscom’s first Startup-pulse Survey conducted in March-April, just after the first lockdown was imposed by the government.