India sees a boom in unicorns as investors are spooked by China’s Big Tech crackdown

Last week marked a watershed for technology start-ups in India, as a record bout of fundraising shifted attention to the world’s second-most populous market, just as investors were becoming spooked by a crackdown on internet companies in China.Food-delivery app Zomato Ltd became the nation’s first unicorn to make its stock-market debut, raising US$1.3 billion with backing from Morgan Stanley, Tiger Global and Fidelity Investments. The parent of digital payments start-up Paytm filed a draft…


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