Flush with funds, Indian startups on hiring spree in a slowing economy

Flush with funds, Indian startups on hiring spree in a slowing economy

  • Bike rental startup Vogo plans to more than double the number of employees by the end of next year, unfazed by the consumption slowdown in India that has brought makers of cars to consumer goods to their knees.
  • Bengaluru-based Vogo’s chief executive, Anand Ayyadurai, wants to expand his team to 1,000 by the end of 2020 from 400 now, after growing the startup’s employee strength 20-fold over about 12 months.
  • “We plan to invest very significantly in this (people) now, as it is about capability building. A temporary slowdown in India does not necessarily impact the startup economy because the bets these guys (tech startups) are taking are 5-10 years long,” he said.
  • Vogo is not the only startup on a hiring spree. With fund inflow into tech startups continuing at a brisk pace, startup hiring may not be immediately affected due to the current economic slowdown in India, according to several startup founders and analysts.

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