India has now entered the Lockdown 5.0 phase, which basically relaxes the restrictions on a host of businesses, including hospitality and retail to a large extent. Although there’s still fear in the minds of consumers and businesses, they are starting to adapt to the ‘new normal’. The changes in the lockdown have brought the need for new innovations from startups and transparent processes to streamline the supply chains, business and team communications as well as identify ways to connect with the consumer in a more grounded manner.
For many industries, the road to recovery is long. However, there are a few sectors where pandemic has created positive momentum. While scouting for the startups to watch out for May 2020, we came across a number of early-stage startups that have managed to survive the storm.
More than half of the startups that made the list or to be precise, 56% are from deeptech, fintech and enterprise tech, while 60% of the startups operate on the B2B side.
This is not surprising at all, given the way the traditional BFSI ecosystem has struggled to maintain its manual KYC work, underwriting and collection processes, and the fact that SMBs and businesses opted for work from home at large scale to push the market for enterprise tech.