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India shows startups' adaptability amid devastating COVID wave

Companies remodeled strategies during the first wave, entered the second stronger

Funeral pyres for COVID-19 victims in New Delhi on April 26. An accelerated digital transformation may bring online startups better growth opportunities than predicted under the second waves of infection across Asia.   © Reuters

TOKYO -- India's second wave of the COVID-19 pandemic has turned out to be far more devastating than the first in terms of the numbers of patients and deaths. Yet some startups are demonstrating the striking resilience they succeeded in building during the first wave last year.

Ritesh Agarwal, founder and chief executive of Oyo Hotels and Homes, one of the major Indian unicorns -- startups valued at $1 billion or more -- became a little emotional when he revealed that some of his co-workers at Oyo and franchisee hotel owners have passed away due to COVID-19.

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