NEW DELHI: It was an historic week for India’s technology industry. In the space of four days, the country minted at least six new startups with a valuation of US$1bil (RM4.1bil) or more - what techies call unicorns because they’re supposed to be such rarities.
In rough order of size: The investment platform Groww raised money at a valuation of more than US$1bil, messaging bots startup Gupshup hit US$1.4bil, digital pharmacy API Holdings Pvt was valued at close to US$1.5bil, app developer Mohalla Tech surpassed US$2.1bil, social commerce startup Meesho Inc also reached US$2.1bil and financial-technology provider Cred rounded out the blessing of unicorns at US$2.2bil.
For context, India had a total of seven new unicorns in all of 2020, according to market researcher CB Insights. In 2019, it had six.
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