Is Fundraising possible during COVID-19 crisis?
Since the March-end when Covid-19 hit badly and our Honorable PM Narendra Modi announced a countrywide lockdown, almost all sectors get impacted. Entrepreneurs are anxious about their businesses many are not able to operate due to several problems they are facing.
One of the leading problems businesses are worried about is “Lack of funds”. As funds are the prime pillar for any business to meet all the needs. Funding is actually the oxygen on which business runs. This oxygen has a different source.
Now the first thing comes to an entrepreneur’s mind – Are investors investing during this Crisis Time?
The Simple and a Big answer is “Yes”. Obviously, they are always interested, if your idea is good, team have enthusiasm, you are targeting a vital problem and providing it a genuine solution etc. Then why not? Nothing can’t obstruct your funding source.
In fact, there are many Ventures and Angel Investors who are participating in fundraising processes. Many startups are in news for fundraising. Government itself inviting ideas to provide solutions to the current situation.
According to research and consulting firm, HexGnIndian – tech-led startups attracted funding worth $2.5 billion in the first quarter of 2020, a 14 percent rise compared to the same period last year. On the other side, funding in startups on a global level dropped by 15 percent to $60 billion in the quarter as compared to the year-ago period.
IIT Mandi Catalyst – selected 9 startups to disburse Rs 2Cr under the NIDHI Seed Support System programme of the Department of Science and Technology (DST).
Setu – Financial infrastructure startup raised $14.56 million Series A round.
Wellthy Therapeutics– Digital therapeutic company has secured $4.2 million in a pre-Series A round.
Yellow Messenger –an AI platform has announced a $20 million Series B round of funding
Dailyhunt– News aggregator has raised around $24 million.
NoBroker – an online real estate rental startup has raised around $30 million or Rs 216.13 crore.
Box8 – foodtech platform has raised fresh funds of $4 million
Pariksha – ed-tech startup has raised funds in an extension of its pre-Series A round of funding.
Bounce – a bike rental startup raised $6.5Mn.
Paper Boat – beverage and snack brand secured $1.4Mn
Aavenir– SaaS-based source-to-pay solutions provider has raised $2 million
Arya– an agritech startup raised $6Mn in its pre-Series B funding round.
There are infinity examples of startups businesses who are raising funds even during this time of crisis, because they have confidence in their idea, on the capability of their team, the performance of their product/services.
Indian startups have got a lot of potential. Soon it will become the largest source of job creators. We are known for our talent and hard work all over the world. Some of our startups are leading the world with their products/services. Companies like Ola, Swiggy, Zomato, Oyo, Paytm, etc have proven our capabilities.
The time is never wrong if your idea is strong enough.