40% Indian tech startups have suspended work due to coronavirus.
As many as 90 per cent tech startups in India have reported a decline in revenue and about 30-40 per cent have suspended operations or will close down because of the coronavirus pandemic.
Revenue declined by more than 80 per cent for about 34 per cent of such companies, said the ‘Start-up Pulse Survey’ conducted online and involving over 250 startups in April.
While 70 per cent of travel and transport startups reported suffering 40 per cent revenue decline, 14 per cent of edtech, fintech and healthtech startups expect growth in revenue amid the COVID-19 crisis.
The month-long survey further revealed that 70 per cent startups have runway less than three months, with those in the business-to-customer segment majorly affected.
About 60 per cent of B2C startups are facing business closure, according to the report.