Glimmer of hope amid long startups’ layoff season

Multiple rounds of layoffs across Indian startups have spooked employees, but there is sustained demand for tech talent and gig workers across sectors.

Tuesday June 07, 2022 , 3 min Read

Hello Readers,

Startups in India have collectively fired some 6,000 employees over the past few months, and there is more to come.

However, amid the chaos of the startup firing season, Software-as-a-Service (SaaS) startups and IT (information technology) companies are laying out plans to attract experienced talent.

“Job roles for full-stack engineers, data engineering, product management, and DevOps will continue to be in demand across IT companies, GCCs, and SaaS startups starting June as funding has been favourable for these businesses in the past couple of weeks,” Yeshab Giri, Chief Commercial Officer, Staffing and Randstad Professionals at Randstad India, tells Yourstory.

As employees look beyond larger paychecks and rethink their career goals, will India’s Startup Inc manage to onboard tech talent? Read more.

The Interview

As India leapfrogs among global economies, an increasing number of Indian unicorn and soonicorn startups are expanding their global footprint.

In the latest episode of 'Scale to Succeed' roundtable series powered by HSBC, Disprz Co-founder and CEO Subramanian Viswanathan, Leverage Edu Founder and CEO Akshay Chaturvedi, and GoMechanic Co-founder Nitin Rana discuss the global ambitions of Indian startups.

Editor’s Pick: Women in Tech

As Vice President - TIBCO Delivery & MENA Services at Bahwan CyberTek, Bhuvaneswari Veerasamy is responsible for the overall business growth and profitability of the services' business team. She believes diversity ensures focus on the right talent, and fuels business performance.

In an interview with HerStory, Bhuvaneswari charts her experiences in tech, current responsibilities, and why flexible working models should become the norm. Read more.

Startup Spotlight

Strengthening healthcare supply chain

Talha Shaikh and Ashok Yadav started Biddano in 2016 as a B2C (business-to-consumer) pharmacy aggregator platform that helped customers get prescription drugs from nearby pharmacies within 45 minutes.

The team has now pivoted to a B2B (business-to-business) model, focused on organising the B2B healthcare supply chain in India. Read more.

News & Updates

Myntra announced that its biannual ‘End of Reason Sale’ (EORS) will be held from June 11 to 16, 2022. The fashion commerce giant Myntra expects an uptick in demand by over 3X of business as usual (BAU) and a 26 percent increase in traffic over the previous edition.

Bengaluru-based proptech startup Ivy Homes raised $5.75 million in equity and $1.3 million in debt in its seed round, which saw participation from Khosla Ventures, Venture Highway, Y Combinator, GFC, Foundamental, Better Capital, and Titan Capital.

Yuga Labs has confirmed that its Discord server for the Bored Ape Yacht Club NFT series was hacked over the weekend. The confirmation came after Twitter user @NFTherder claimed that the server was compromised and that over 145 Ether worth of NFTs were stolen.

The Reserve Bank of India (RBI) declared Tonetag, napID Cybersec, and TrustCheckr winners across four categories at its first-ever global hackathon, HaRBInger 2021. The theme of the hackathon was "Smarter Digital Payments".