How This COVID-19 Crisis Impacted The Funding For Analytics Companies

Prior to this pandemic, startups had been positioned for rapid growth. However, currently, the ecosystem is struggling to survive due to challenges in raising capital in this outbreak. This has been attested by Nasscom's recent survey which stated that majority of startups in India are soon going to heavily bear the brunt of this pandemic as 70% of them have less than three months of cash runway in the bank. Another 22% can barely make it to the end of 2020. Earlier this year, major venture capital firms such as Accel, Lightspeed, Sequoia, Nexus Venture Partners, among others, cautioned startups in an open letter about the difficult times ahead in terms of funding.