India's year of the unicorn: Start-ups in spotlight of 2021 tech boom

MUMBAI: Sumit Gupta has had a big year -- turning 30, getting married and seeing his start-up become one of India's newest tech unicorns.

This year 44 Indian unicorns - privately held startups valued at more than US$1 billion - were minted as investors piled money into a country long overlooked despite its vast potential. India by contrast became more attractive, with its large pool of well-educated entrepreneurs upending how many businesses work using a fast-developing digital infrastructure.

"I believe in the future of India. I believe in the passion of young entrepreneurs in India. India will be great," Softbank's founder Masayoshi Son said earlier this month.Companies going public included food delivery app Zomato and beauty products platform Nykaa, listing at huge premiums to their IPO prices and making billionaires of their founders.

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