Indian start-ups get creative as coronavirus crisis fuels funding crunch

BENGALURU (Reuters) – Samik Sarkar was managing to eke a profit out of his online apparel store before the coronavirus crisis hit India, forcing the 36-year old to reinvent his business overnight. “I started selling masks because that’s all I could sell,” Sarkar said. “I have salaries to pay.” The rapid global economic slowdown, India’s coronavirus lockdown of 1.3 billion people and an exodus of venture capital are testing a start-up community that has quickly become one of the world’s biggest, raising a record $14.9 billion last year.

Link: Indian start-ups get creative as coronavirus crisis fuels funding crunch
via www.reuters.com

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