7 Tech Startup Companies Flourishing During the Pandemic

The Coronavirus pandemic has impacted businesses and employment on a scale not seen since the Great Depression. With such a drastic toll on the economy, it seems as if nearly every industry is struggling at the moment. 

However, the pandemic has been beneficial for a few industries and companies, especially those in the tech field. As Americans and many around the world continue to socially distance and spend more time at home, the tech startup industry has flourished. 

During a time when more traditional businesses are suffering due to the limitations of the Coronavirus, many tech startup companies have attracted lucrative investments or have seen a rise in usership.

Gaming

1. Now that many sporting leagues have cancelled their seasons, sports fans are compensating for that loss through the playing of esports. The esports market has grown by 16% since 2019, reaching an estimated $1.1 billion. Many esports startups have capitalized on the need for entertaining competition such as PlayVS, which recently acquired an investor and large of funding.

Food

As access to restaurants is limited across the country, many Americans have become more interested in sustainable groceries.

1. Impossible Foods, a plant-based alternative to meat, thrived last year and has continued to flourish even during the pandemic. The Impossible Burger recently expanded its market to 1,700 Kroger stores nationwide, increasing their retail visibility by 18 times.

2. A challenger to Impossible Foods, Memphis Meats, has also increased its capital during the pandemic. The company, backed by Bill Gates, Richard Branson, and Tyson Foods, raised $211 million to support its lab-grown meat mission.

3. Olipop managed to raise $13 million in disclosed funds. The beverage company is being marketed as a healthier alternative to soda. It uses prebiotics, plant fiber, and botanicals to help boost digestive health. The startup beverage is currently sold at Whole Foods and Fred Meyers and is seeking to expand.

4. Securing $213 million in disclosed funds, Perfect Day is thriving during the pandemic. Perfect Day is a food tech company that develops animal-free diary products through the use of fermentation rather than traditional dairy extraction from cows.

Fitness

As gyms across the country have closed, the use of at-home fitness products has surged as health-focused Americans try to maintain their exercise routines without going to a gym.

1. Cure.fit, an Indian fitness startup, has been able to use the Coronavirus pandemic to its advantage by expanding into the U.S. market thorough its online fitness services. Along with workouts, the company also offers therapy, medication, and yoga sessions. Just last month, downloads exceeded 12,000 in U.S. app stores.

2. Mirror is another tech fitness startup but is unique in that its trainings are done through a computerized mirror rather than a phone or laptop. When users purchase the Mirror, they have a portable home-gym with fitness offerings from yoga to kickboxing to cardio. The fitness startup recently attracted investment from model Karlie Kloss and apparel company Lululemon.