E-commerce, banking, and edtech start-ups predominate on LinkedIn's list of the 25 "Top Start-ups 2022," which highlights the burgeoning start-ups in India.
According to reports, Indian companies have raised more than $1 billion in August alone. That's in spite of cash limits in a slowing global economy, where investors are demanding better outcomes and the days of easy money for startups are over.
India's start-up scene may hold some promise, according to LinkedIn's list of the "Top Start-ups 2022" in that nation.
According to Nirajita Banerjee, "India's adoption of fintech has increased and the funding reflects that, with the industry drawing approximately 26% of total investments made during the April-June quarter of this year."
She added, citing businesses like upGrad, GrowthSchool, and Classplus, "Edtech has also made its imprint in the list."
With firms like Skyroot Aerospace and AgniKul Cosmos appearing on the list for the second year in a row, Banerjee continued, India's space technology and research sector is also "an developing one to watch."
Young professionals are embracing India's startup environment, with 17% of new employees in the top 25 startups being under the age of 25, and 56% of all hires in those startups being under the age of 30.
The list was created by LinkedIn using internal data that was gathered between July 1, 2021, and June 30, 2022. The data measured the start-ups in four categories: employment growth, engagement, job interest, and attraction of top talent.
Companies required to have 50 or more employees, have their headquarters in India, and be no older than seven years old at the time of computation in order to qualify.
According to LinkedIn, the rankings are a resource for workers who want to advance their careers and are "excited by the chance to create."
According to the professional networking site, "it is this thriving startup ecosystem that will enable India to accomplish its aim of being a $5 trillion economy by 2025.
Here’s the full list of India’s top start-ups 2022, according to LinkedIn:
25. Zypp Electric — Transportation and logistics
24. Pocket FM — Internet
23. Stanza Living — Hospitality
22. AgniKul Cosmos — Defence and space
21. FamPay — Financial services
20. Living Food — Food and beverage
19. Ultrahuman — Wellness and fitness
18. DealShare — Internet
17. BlissClub — Retail and fashion
16. Park+ — Internet
15. Classplus — E-Learning
14. Rapido — Transportation and logistics
13. Simpl — Consumer services
12. Ditto Insurance — Financial services
11. Share Chat — Internet
10. BluSmart — Automotive
9. GrowthSchool — E-learning
8. The Good Glamm Group — Internet
7. Spinny — Retail motor vehicles
6. MBA Chai Wala — Food and beverage
5. Skyroot Aerospace
Industry: Space research and technology
Full-time headcount: 200
Most common skills: Aerospace engineering, machining, scientific computing
Engineers and retired scientists from the Indian Space Research Organization formed Skyroot Aerospace four years ago. It develops tools for "responsive, economical access to space." The spacetech company is currently developing a number of rockets to assist in launching tiny satellites into orbit.
Full-time headcount: 1,000
Most common skills: Business management, manufacturing operations, data science
Zepto is a startup that promises to deliver groceries in less than 10 minutes. Co-founded by two 19-year-old Stanford dropouts, the latest cash injection of $200 million it received in May 2022 valued the business at $900 million. That brings Zepto one step closer to unicorn status — a startup valued at more than $1 billionTwo 19-year-olds dropped out of Stanford to build India’s next tech unicorn
Industry: Food and beverage services
Full-time headcount: 680
Most common skills: Development tools, web development, data science
Groww is an digital investment platform that provides an objective evaluation of different investment opportunities through stocks and mutual funds. The company boasts of more than 30 million active users, according to its website, and aims to simplify investment for the masses.
Full-time headcount: 5,000
Most common skills: Business management, communication, sales operation
upGrad partners with universities in India and overseas to provide professionals and college students the opportunity to upskill. In August 2021, upGrad reached unicorn status and has since raised another $210 million in Series F funding.
Industry: Financial services
Full-time headcount: 800
Most common job titles: Software engineer, business consultant, product analyst
CRED is a member-based credit card rewards app that was founded in 2018. It allows credit card users to manage multiple cards, and it comes with an analysis of their credit score. CRED is another unicorn in the list, and is now valued at $6.4 billion after its latest round of funding.
Some employee perks include ElderCare benefits and egg freezing, according to LinkedIn.