LinkedIn’s Report on India’s Thriving Start-up Ecosystem
Amid concerns of a funding winter in the Indian start-up landscape, LinkedIn has released a report highlighting the thriving entrepreneurial spirit in the country. The report identifies key areas of innovation for Indian start-ups, including fintech, deep tech, artificial intelligence (AI), and sustainability.
LinkedIn’s report notes, “Indian start-ups have trailblazed their way through recent economic and workplace challenges and managed to stand out to investors and top talent along the way.”
As part of the report, LinkedIn has compiled a list of the top 20 start-ups in India. These rankings are based on four key criteria: employment growth, engagement, job interest, and the ability to attract top talent.
Leading the Pack: Zepto and BluSmart
The list is led by Zepto, a quick commerce company that recently secured $200 million in fresh funding, becoming the first unicorn of 2023. In the second position is BluSmart, India’s pioneering electric ride-sharing company.
Here is a snapshot of the top five start-ups from LinkedIn’s list:
- Zepto
- Full-time headcount: 1400+
- Headquarters: Mumbai
- Year founded: 2021
- BluSmart
- Full-time headcount: 620
- Headquarters: Gurugram
- Year founded: 2018
- Ditto Insurance
- Full-time headcount: 250+
- Headquarters: Bengaluru
- Year founded: 2018
- Pocket FM
- Full-time headcount: 480+
- Headquarters: Bengaluru
- Year founded: 2018
- Skyroot Aerospace
- Full-time headcount: 260
- Headquarters: Hyderabad
- Year founded: 2018
Diverse Avenues of Innovation
The report highlights that innovation in Indian start-ups is not limited to traditional sectors. Emerging areas such as wellness, agri-tech, and space tech are gaining traction alongside established domains like quick commerce and fintech.
Nirajita Banerjee, Head of Editorial, LinkedIn India, commented, “It’s truly remarkable that 14 of the 20 start-ups featured on this year’s list are new entrants, underscoring the immense potential and astonishing pace of innovation in India’s start-up space.”
Criteria for Inclusion
The study excluded specific categories such as staffing firms, think tanks, venture capital firms, law firms, management and IT consulting firms, nonprofits and philanthropy, accelerators, and government-owned entities. Furthermore, start-ups that had laid off 20% or more of their workforce were not considered for inclusion.
The data collection period for the report spanned from July 1, 2022, through June 30, 2023, showcasing the recent dynamism within India’s start-up ecosystem.
List of the top 20 Indian start-ups, as per LinkedIn’s report:
- Zepto
- Full-time headcount: 1400+
- Headquarters: Mumbai
- Year founded: 2021
- BluSmart
- Full-time headcount: 620
- Headquarters: Gurugram
- Year founded: 2018
- Ditto Insurance
- Full-time headcount: 250+
- Headquarters: Bengaluru
- Year founded: 2018
- Pocket FM
- Full-time headcount: 480+
- Headquarters: Bengaluru
- Year founded: 2018
- Skyroot Aerospace
- Full-time headcount: 260
- Headquarters: Hyderabad
- Year founded: 2018
- GoKwik
- Full-time headcount: 275
- Headquarters: New Delhi
- Year founded: 2020
- Fi
- Full-time headcount: 400
- Headquarters: Bengaluru
- Year founded: 2019
- Sprinto
- Full-time headcount: 150+
- Headquarters: Bengaluru
- Year founded: 2019
- Supersourcing
- Full-time headcount: 120
- Headquarters: Indore
- Year founded: 2020
- GrowthSchool
- Full-time headcount: 180
- Headquarters: Bengaluru
- Year founded: 2021
- Jar
- Full-time headcount: 180+
- Headquarters: Bengaluru
- Year founded: 2021
- Shyft
- Full-time headcount: 70
- Headquarters: Gurugram
- Year founded: 2019
- Teachnook
- Full-time headcount: 130+
- Headquarters: Bengaluru
- Year founded: 2021
- StockGro
- Full-time headcount: 60+
- Headquarters: Bengaluru
- Year founded: 2020
- Exponent Energy
- Full-time headcount: 185
- Headquarters: Bengaluru
- Year founded: 2020
- Housr
- Full-time headcount: 100
- Headquarters: Gurugram
- Year founded: 2019
- AccioJob
- Full-time headcount: 190
- Headquarters: Gurugram
- Year founded: 2018
- TravClan
- Full-time headcount: 190+
- Headquarters: New Delhi
- Year founded: 2019
- DotPe
- Full-time headcount: 450+
- Headquarters: Gurugram
- Year founded: 2019
- Fasal
- Full-time headcount: 170*
- Headquarters: Bengaluru
- Year founded: 2018
