The Covid shock of March devastated most industries and the startup ecosystem was no exception. Sequoia issued its now-famous memo calling Coronavirus the Black Swan of 2020 and Nasscom said 40% of Indian tech startups were forced to halt operations. But investments and startups have shown resilience and recovered, as India saw a rapid shift to digital services and payments. Here's ET NOW's Chandra R Srikanth with detailed report on How Indian Startups fared in 2020 amid COVID-19 pandemic.How Indian startups fared in 2020 amid COVID-19 pandemic
The Rs 500-crore philanthropic fund, to be raised over the next two years, seeks to back solutions for societal problems afflicting education, healthcare, environment and women's participation in the workforce, Action Covid-19 Team says.
From Dubai to Maldives: Rich remote workers escape to $70,000-a-month resorts while awaiting Covid vaccines
The second wave of Covid has globally triggered a desire for more permanent, warmer, far-flung escapes.
A top executive at Bounce said the on-demand two-wheeler rental service still has around $70 million in cash from its previous funding round and will utilise that capital to grow its EV business.
The blue-chip CSI300 index fell 1.5% to 5,437.52, while the Shanghai Composite Index slipped 0.8% to 3,566.38.
For the country to be a manufacturing hub, there needs to be mass customisation, focus on technologies such as IoT and 3D, and companies need to adhere to compliance standards, concluded panelists at ET India Inc Boardroom.
The Zomato IPO—slated for later this year—is expected to raise $750 million to $1 billion through a 100% primary offering, keeping in mind the long-term upshot that the investors expect from the stock.
Businesses are keen to get back to work, in the physical sense too.
Pune-based Mylab Discovery Solutions was the first Indian company to receive commercial approval to manufacture Covid-19 test kits in the country. This helped it win the Covid-led Healthcare Innovation prize at ET Startup Awards 2020.
Who gained, who lost? ETtech takes stock of the changing startup fortunes in a pandemic-marred year.
UptimeAI, which builds predictive maintenance software for heavy industries, will use the funding to scale its core tech efforts and expand presence in international markets.
Negotiating salary in normal times is stressful. It becomes even more stressful during pandemic times if you have been through salary cut or received a pink slip. Here is how you can talk to your manager about the revision of pay during the pandemic
7.ai, a customer engagement solutions provider, has added 2,500 people to its workforce, primarily in Bengaluru and Hyderabad. About 80% of 7.ai’s employee strength is currently working from home.
CitiusTech expects to grow at more than 20%, in line with its ambition to cross $500 million in revenue over the next 4-5 years, CEO Rizwan Koita says.
During the lockdown, people were forced to make do with less. Now, some are carrying on with this life lesson, cutting down on city life, eating out, new clothes.
Zomato, which is drawing up plans for an IPO later this year, is looking to bring on board 400 people during 2021, mostly via the referral mode to get the right people and keep a check on attrition.
In the midst of one of the deadliest phases of the pandemic in the United States, health officials in Texas and around the country are growing desperate, unable to get clear answers as to why the long-anticipated vaccines are suddenly in short supply.
Speaking at the India-Portugal Tech Summit, organised by the Department of Science and Technology and the Confederation of Indian Industry (CII), Vardhan said the government has announced a USD 120 million grant for COVID-19 vaccine research.
Indian IT startup Thalamus Irwine claims to have developed an Artificial Intelligence and IoT-based solution to complete a sero-survey with 1 crore samples of COVID-19 cases within a week.
"The crisis has shaken up the way we view the world and exposed the fault lines in our society. It has also emphasised the necessity for quick and relevant solutions for the new world that is rising from the ashes of the old," said Mahindra.
The European Medicines Agency (EMA), charged with overseeing drug approval in the European Union, told AFP that it could approve the first Covid-19 vaccines by the end of the year, or early in 2021. France, Spain and Italy have all sketched out distribution plans on that basis.
The UN report 'Geospatial Practices for Sustainable Development in Asia and the Pacific 2020' cites the role being played by 'BHUVAN', the national geo-portal developed and hosted by ISRO comprising of geo spatial data, services and tools for analysis, in combating COVID-19.
Rivian is hoping to cash in on the same opportunity that Tesla identified and has advanced — the electrification of transportation.
Even as industries world over faced unprecedented challenges last year amid the outbreak of the coronavirus pandemic, the country’s largest two-wheeler maker Hero MotoCorp took a relook at its operating models and defined new ways to expand.
Two vaccines are undergoing third-phase trials in the UAE, one produced by Chinese drug giant Sinopharm, and Russia's Sputnik-V, named after the Soviet-era satellite.
The system can be activated remotely using IoT Mobile applications.
According to the brokerage, Reliance Industries will garner over 500 million users over the next 3-5 years, offer broadband services to 20-25 million households and cater to 12-15 million small businesses.
A national expert group is talking to public and private sector entities in the pharmaceutical sector, food processing industry and agro businesses as well as food delivery start-ups such as Swiggy and Zomato to identify cold storages or fridges at the taluka level that can stock and distribute the vaccine.
The pandemic lockdown has not just spawned a wave of first-time authors - including celebrities who have a story to tell- but also encouraged many others to finally complete long-pending manuscripts.
The pandemic has reshaped the startup landscape. Stress took its toll but SaaS sector grasped at new opportunities and biotech firms rose to the Covid-19 challenge. If the border standoff swung the pendulum away from Chinese investors, Reliance created a ripple effect. Here are eight trends in the Startup world.
Donut Robotics' engineers came up with the idea for the mask as they searched for a product to help the company survive the pandemic.
A person would simply have to blow into a mouthpiece connected to a 'high-precision breath sampler'.
The staggering impact of COVID-19 has unleashed a wave of innovation and witnessed the birth of new ideas across the innovation landscape.
While a large operator like RMZ is exiting the business, global major WeWork plans to expand as per client specifications only for some time. Awfis and Smartworks have also slowed down the pace of expansion as they continue to study the evolving market dynamics.
The coronavirus pandemic has spurred new interest in products that help users of cigarettes and vaping products quit. Some public health agencies, including the FDA, have said smoking may worsen Covid-19 outcomes.
As weddings go online amid lockdown, startups and even bigger firms are exploring virtual wedding space.
BookMyShow is promoting free-to-watch Instagram Live performances in an effort to keep its users engaged, while restaurant aggregator and food delivery firm Zomato is targeting a push into alcohol delivery.
Moderna's COVID-19 vaccine mRNA-1273 on Friday became the second drug in the US to get emergency use authorisation from the US FDA, a week after the one developed by American pharmaceutical giant Pfizer and its German partner BioNTech received a similar approval.
The $2.2 trillion emergency relief will help many workers and businesses dealing with an unprecedented economic shutdown.
Bird recently raised hundreds of millions of dollars from investors, but is slashing costs to ensure it has enough money to keep it running through next year, according to VanderZanden.
Whether we find an effective vaccine or not, I am hopeful that we will eventually find some cure that will reduce the intensity of this pandemic. But it will be imperative for all of us to learn not to take this pandemic for granted.
Suddenly, startups that were looking for growth avenues were scrambling for ways to survive. The smart ones, however, have learnt to adapt.
A number of themes will shape the course of the Indian economy through 2021 and beyond. These themes — investing, the future of work, the acceleration of digitisation, and the impact of the pandemic on contact-intensive.
While Cadila’s plasmid DNA candidate doesn’t use an infectious agent like others, and instead introduces the DNA sequence encoding the antigen, the other tests being done are for traditional delivery methods. Serum Institute is conducting tests for the candidate developed by Oxford University. Dr Reddy’s plans to distribute the Russian vaccine.
IIT Kharagpur alumnus Debayan Saha has collaboratively developed Airlens Minus Corona, a device which may help sanitise large areas.
With 115 venture capital-backed 'unicorns', with a valuation of more than $1 billion, the total valuation of tech firms founded in Europe since 2000 has grown to nearly $1 trillion.
A recession amid a pandemic may seem like the worst time to start a business. Despite millions of loans and grants from federal and state governments, it's estimated that hundreds of thousands of companies have already failed since the virus outbreak began.
In the mail, the non-executive director of Reliance Industries said cherishing the health and happiness of our family is what it means to be part of a family--the Reliance family.
The index, which has gained nearly 12% so far this month, posted its highest close since 1991 on Tuesday.
In the spring, the Smithfield plant in Sioux Falls became the number one virus hotspot in America, with a cluster of 644 confirmed cases among employees and people they were in contact with.
Unsecured loan apps in India are facing regulatory action for their methods, including collection and misuse of borrower's data, underlining the risks to driving financial inclusion with newer technologies.
The startup’s pilot machine can coat textiles of length up to 100 metres within a few minutes – according to them, it can deployed immediately for use.
Startups like Urban Company, Bounce, Cred, Snapdeal, Unacademy, 1MG have supported the findings of the report.
All but two of the 33 sector sub-indexes on the Tokyo exchange traded lower, with real estate, pharmaceuticals and land transport leading the decline on the main bourse.
We look forward to working with Germany on cooperation in Indo-Pacific: Foreign Secretary Harsh Vardhan Shringla
In an address at a virtual conference on Indo-German ties, Foreign Secretary Harsh Vardhan Shringla referred to Berlin's release of policy guidelines for the Indo-Pacific region, and said that India was happy to note the "high degree" of convergence between the two countries on the issue.
The biggest impact of the pandemic on businesses worldwide was to speed up the penetration and adoption of technology. Digitisation penetrated to the extent of eliminating travel for business, replacing it with virtual meetings everywhere.
The objective behind this service is to provide a "one-stop solution" to the families and give them support in their hard times and help them perform the last rites in a hassle-free manner.
The blue-chip CSI300 index rose 1.4% to 5,113.71 points, its highest close since June, 2015. The Shanghai Composite Index advanced 1.1% to 3,414.45 points.
Airbnb told its shareholders that it was splitting its privately held shares, which will lower its stock price per share ahead of the IPO.
"About 25 per cent of the startups have less than six months of runway," the co-founder of IT major Infosy Ltd, told P T I. "They will be in serious trouble if the recovery does not happen in six months, it does not look like (happening within that period)."
In the year 2020 alone, the country minted over 9 such new Unicorns, despite the disruption to businesses and the economy caused by the dreaded Covid-19 pandemic.
The May 1-2 RAISE webinar will feature marquee venture capitalists, angel investors and other leading ecosystem players throwing light on the various dimensions of the stalemate .
Airbnb’s policy is that all reservations are able to be canceled within 48 hours of booking for a full refund. Beyond that, it’s up to hosts to determine the refund policy, which are stated on the listings and range from flexible to strict.
Oil prices extended their gains on Monday as traders were optimistic about a recovery in crude demand thanks to successful coronavirus vaccine trials, but price gains were contained by renewed lockdowns in several countries. Sentiment was also bolstered by hopes that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, will keep crude output in check.
While Vineeta Singh’s main objective was fitness, the workout routine helped in an unexpected way.
Sequoia has been a fixture of Silicon Valley for decades, helping fund generations of companies, including Apple Inc., Google, Instagram and DoorDash Inc. In 2008, the VC firm sent a similar, ominous note to founders called “RIP Good Times” during the depth of the recession.
Startup founders in India have joined hands and are taking the initiative to help the government and citizens battle the ongoing coronavirus pandemic by bringing various solutions ranging from a quarantine app to a disease-free vehicle shield.
Muse Nanobots conducted a study with the U.S.-based Situ Biosciences, an independent product test laboratory in Chicago, to understand the effectiveness of Muse Nanobots antiviral coating on coronavirus 229E, showed that it inactivated 99.99 per cent of the coronavirus 229E within five minutes of contact time.
Shocking videos of coronavirus patients lying next to corpses in overrun hospitals and ambulances with critically-ill driving around in search of hospital beds have conferred fresh impetus to the task of rescuing Indian health care.
Deputy chief minister CN Ashwath Narayan on Thursday asked the IT/BT department to set up a committee at the earliest. The deputy chief minister took a decision to this effect after he visited Bengaluru Bio Innovation Centre.
Indian researchers working towards developing effective vaccine strategies against SARS-CoV-2 and HIV
In two studies published in the past week, they reported the design of a 'heat-tolerant' Covid-19 vaccine candidate and a rapid method to identify specific regions on the HIV envelopeprotein that are targeted by antibodies, which can help design effective vaccines, an IISc press release said.
Before the outbreak, some rental managers were counting on a seasonal bump in business after prospective tenants return to large cities for work after the Lunar New Year Holiday. Instead, they’re now forced to cope with a decline in revenue.
CovidMaps.in lists details around when a store is open, what items are available and how much, safety precautions being observed, crowding, wait-times to help people get their essentials in a safe way.
Amid work from home, their mega closets gather dust as loungewear becomes the new suits. Understandably, those periodic shopping trips overseas are off bounds. The summer skiing trips to the Swiss Alps have been cancelled. The coronavirus has been truly democratic in its rage, not sparing even the rarefied and gilded world of India’s super-rich.
The Nasdaq dipped slightly to join the S&P 500 in the red, but financials helped the blue-chip Dow reverse course for a modest gain.
The sensors were programmed to go off when two people were within 1.5 meters, roughly 6 feet, of each other for more than 5 seconds.
Robot food service was a trend even before the coronavirus pandemic.
Pandemic lockdowns have affected consumer behavior in ways that will spur AI’s growth and development. As consumers buy more online to avoid the new risks of shopping in stores, they are giving sellers more data on preferences and shopping habits.
RAISE 2020 summit is expected to feature some of the most exciting global startups working in AI-related fields and is expected to have multiple events, such as the AI Startup Pitchfest, AI Startup Theater and The AI Startup Awards.
MyClassboard, a Hyderabad-based edtech startup, will use the funding from ICICI Bank to expand its offerings to 50 lakh students across 10,000+ and enter the Middle East and Southeast Asian markets.
The COVID-19 crisis has brought a change in startup investment patterns. Venture capital firms are shifting their focus from tech-centric startups to the ones operating in sectors such as FMCG, online grocery delivery, home entertainment etc.
It said that the challenge is open to all startups, companies, and innovators - whose innovation can plug the gap between the demand and supply of essential medical items to fight the Covid-19 outbreak.
Initial batches have been supplied in Chennai, while some were in the process of being scaled up towards mass production for use in hospitals and clinics across the country.
The Action Covid Team (ACT) Grants, which is possibly a first-of-its-kind initiative globally, has already received about 40% of its target corpus, with some of the country’s top entrepreneurs also coming on board to not only provide capital, but also identify ventures that may be still at an ideation stage.
Medal is among a growing number of startups offering stock-for-salary trades to preserve cash as the tech industry reels and economic uncertainty mounts.
Modi demonstrated leadership by announcing a lockdown and 3 packages to help citizens & businesses to cope.
At the close, the blue-chip CSI300 index was up 0.92% to 5,417.68, its highest since January 16, 2008, while the Shanghai Composite index was up 0.63% at 3,550.88.
As the Covid-19 outbreak hits companies hard, CFOs like Vaish are bracing for what many are referring to as the toughest phase in their careers.
The New Jersey-based health-tech startup plans to utilize the funds for customer acquisition, recruiting talent, scaling up operations in India and the US and ramping up technology to further digitalize physician engagement experience, said a press statement issued by the company.
SEC gains 0.71 per cent, CSI300 up 0.84 per cent, SSEC gains 10.9 per cent in July, CSI300 up 12.8 per cent, biggest monthly rises since April 2015.
Apna Mask initiative, an effort by StartUpVsCOVID, is promoting homemade masks and aims to drive behavioural change to ensure that people wear masks and stay protected as they step out of their homes.
Some of the important measures demanded from the government to help the startups include rental subsidy for workspaces used by start-ups which are regulated/owned/managed by government agencies; blanket suspension of all deadlines including tax payment deadlines and filing deadlines until at least four weeks post lifting of all city lockdown.
Cash is king but the significance of mergers, collaborations and sector specific reforms needs to be duly recognised too if one wants to find a way forward.
The robot is expected to be cost-effective. Once the mould is completed and spares made available, the company will be able to manufacture one robot a day.
Consumers around the world are showing an increased interest in safeguarding their health and boosting their immunity. In India, that often means ayurveda, the country’s ancient system of medicine. Here are a few of the products shoppers in the world’s biggest open consumer market have been stocking up on.
Like other cities of the world, Indian cities will also remain vulnerable to threats like pandemics unless we re-innovate urban design and products having a large public interface. Making them safe and resilient is a challenge for urban planners and designers alike.
With hours in hand, people in India are spending a majority of their time playing mobile games during the lockdown. This has led to a massive surge in user engagement of gaming startups in India.
This year’s two crises have forced many foreigners to reconsider their lives in the UAE.
BlueDot's algorithm can sift through several news stories a day in order to detect and monitor the spread.