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Friday, May 10, 2024

Startups in spotlight of 2021 tech boom

Workers at a poultry shop with a QR code for digital payment platform Paytm on display

MUMBAI – Sumit Gupta has had a big year — turning 30, getting married and seeing his startup become one of India’s newest tech unicorns.

Hampered by the coronavirus pandemic and too busy expanding and getting funding for his cryptocurrency platform CoinDCX, his team finally grabbed a few days on the beach in Goa to celebrate recently.

“That was very delightful to everyone,” Gupta told AFP. “It’s been a very, very exciting journey. I’ve learned a lot… The future of India is very bright.”

This year 44 Indian unicorns — privately held startups valued at more than $1 billion — were minted as investors piled money into a country long overlooked despite its vast potential.

Overseas funds put more than $35 billion into…

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