With the Covid-19 epidemic wreaking havoc on the global economy, individuals, organizations and businesses around the world are relying on survival strategies to keep people on the job. While entrepreneurs are no strangers to the challenges, it may be the most difficult to bear the lasting effects of the epidemic.
However, many people have found their way and adapted to the New Normal with creativity and innovation. It is also worth noting that many women entrepreneurs are successfully riding this storm, raising funds, and keeping their growth healthier than ever.
(L to R Clockwise) BYJU’S co-founder Divya Gokulnath; NIRA co-founder Nupur Gupta; Shivani Poddar and Tanvi Malik, co-founders of High Street Essential; Aditi Awasthi, Founder of Embiab
Learn about five women-led startups that have won the trust of investors and venture capitalists amid the Covid-19 epidemic.
Divya Gokulnath, BYJU’S
Bengaluru-based BYJU’S’S, which has become a household name in the edtech space, has successfully raised several rounds of funding, including the latest in June 2020 from global technology investment firm Bond. It is now estimated to be around $ 10.5 billion.
When the outbreak of the Covid-19 pandemic occurred in India, followed by a period of lockdown and social distancing, BYJU’S made learning content on its platform accessible to all students for free. The startup registered over 6 lakh new students and over 7.5 million new students on the platform in March and April respectively.
In particular, co-founder Divya Gokulnath says that she is first a teacher and then an entrepreneur during an exclusive conversation with Stannery. Divya also emphasized that the edtech sector is in the headlines as students are excluded from other sources of physical education.
Established in 2011, Divya, a biotechnology graduate from RV College in Bengaluru, started her journey with BYJU’S, one of eight key people conducting physical classes as a student, now handling responsibilities as a director and co-founder. Has been
Shivani Poddar and Tanvi Malik, High Street Essential
As global consumer brands rode the success of the fast fashion trend in India, childhood friend-co-founders Shivani Poddar and Tanvi Malik saw an opportunity to cater to the fashion needs of working women. The duo established two brands FabAlley and Indya in 2012 and 2016 respectively.
In June 2020, its parent company, High Street Essentials (HSE) successfully completed a Rs 20.75 crore funding deal led by existing investors SAIF Partners and India Quotient as part of its pre-series C round.
After reporting net revenue of Rs 90.2 crore and a net profit of Rs 1.3 crore in FY 2019, it introduced new fashionable products that are relevant in the Covid-19 landscape such as masks, lounge-wear and formal keyboards-dressing. the option.
Started in 2012 with a five-member team that had more than 900 employees, the Delhi-based startup is known for its online presence and physical shops across other locations, including Delhi, Chennai, Bangalore, Hyderabad, Mumbai, among others.
Ashni Sheth, NOTO
Entrepreneurs Ashni and Varun Sheth believe that most Indians are born with a sweet tooth while indulging in sweets should not come at the cost of one’s health.
To ensure this, the husband and wife duo launched an ice cream brand NOTO in May 2019, which specializes in making healthy, low calorie, low sugar and high protein ice cream. The Mumbai-based startup raised an undisclosed amount of money. With participation from Lead Angels in July 2020, as part of a pre-seed round led by WEH Ventures.
To avoid calorie-rich consumption and a lack of healthy alternatives, given the market gap between the growing health-conscious population, NOTO plans to introduce more ice cream flavours and expand to more cities in India.
Nupur Gupta, NIRA
The journey of small-ticket loan startup NIRA started with two corporate banking professionals who wanted to meet the financial and loan needs of the low-income group.
Partnering with Federal Bank for loan disbursement, the startup offers loans of up to Rs 1 lakh for up to one year through its app-based credit line.
Incorporated in March 2017 and launching products in mid-2018, NIRA lends borrowers a good credit score at low-interest rates and to first-time borrowers who do not have a credit score.
More than a month after India entered a nationwide lockdown that affected blue and grey-collar workers, the fintech startup successfully completed a $ 2.1 million funding deal in the pre-series, including the UK, Europe And existing and new angel investors in India participated.
Aditi Awasthi, Embibe
Entrepreneur Aditi Awasthi founded EdTech startup Embibe to help ACE competitive entrance examinations in India through a personalized learning experience by leveraging data analytics and artificial intelligence.
Aditi saw the market opportunity as most Indian students often take a gap year and devote time to preparing for such competitive exams. Despite many offline coaching centers, he believed that a digital platform where students could learn at their own pace at an affordable cost is a promising niche area.
The startup has strong support in April 2020 with Reliance Industries, a shareholder and an investor promoting the most funding of Rs 500 crore. In February, the group invested Rs 89.91 crore in the startup.
Founded in 2012, Aditi is an MBA graduate from the Chicago booth and has worked with Bain & Company and Barclays before taking entrepreneurial benefits.