BackHere are top-20 startups on the rise in India in 2023, according to LinkedIn
Indian startups thrive despite economic challenges, with space tech, AI, and EV companies leading the way, says LinkedIn.
PremiumVenture funding, layoffs, and leadership churn have taken a hit in Indian startups in the past year amid economic headwinds.
However, despite all the gloom, the country's space tech startup ecosystem has achieved new heights, artificial intelligence-focused companies are attracting investor interest, and electric vehicle (EV) startups are powering green rides at India Inc.
Also read: Top panel to weigh special regime for big startups
According to the sixth annual LinkedIn top-startups list, 20 young companies in the country "have trailblazed their way through recent economic and workplace challenges and managed to stand out to investors and top talent along the way".
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In compiling the list, LinkedIn measured startups based on four pillars: employment growth, engagement, job interest, and attraction of top talent. The methodology time frame is July 1, 2022, through June 30, 2023, LinkedIn said.
Fintech startups continued to dominate on the “LinkedIn Top Start-ups 2023″ list for India. This year, four fintech startups were made into the list of LinkedIn--Ditto Insurance, Fi, Jar, and StockGro. Edtech is another prominent industry in this year’s list with companies like GrowthSchool (10), Teachnook (13), and AccioJob (17).
Also read: Income Tax Department notifies 'Angel Tax' rules for valuing investments in startups
According to LinkedIn, staffing firms, think tanks, venture capital firms, law firms, management and IT consulting firms, nonprofits and philanthropy, accelerators, and government-owned entities have been excluded from the list. Besides, startups who have laid off 20% or more of their workforce based on corporate announcements or public, reliable sources between July 1, 2022, and the list launch were also excluded from the list.
Here’s the full list of India’s Top Start-ups in 2023:
1. ZEPTO
- Full-time headcount: 1400+
- Headquarters: Mumbai
- Year founded: 2021
- What they do: Zepto is a quick commerce company delivering groceries and essentials across 10 cities in India. The Mumbai-based startup raised $200 million in August and became India’s first unicorn of 2023.
2. BluSmart
- Full-time headcount: 620
- Headquarters: Gurugram
- Year founded: 2018
- What they do: BluSmart offers electric ride-hailing services in Delhi NCR and Bengaluru with its 4,500-strong electric car fleet. Founded in 2019, the startup is planning to expand this fleet to 10,000 cars by the end of this year and invest more in setting up electric chargers across India.
3. Ditto Insurance
- Full-time headcount: 250+
- Headquarters: Bengaluru
- Year founded: 2018
- What they do: Founded in 2018, this insurtech startup helps people compare plans, understand policies, and buy insurance through its online platform.
4. Pocket FM
- Full-time headcount: 480+
- Headquarters: Bengaluru
- Year founded: 2018
- What they do: Audio series platform Pocket FM offers audio entertainment across multiple genres and Indian languages through its 100,000+ hour-strong content library. Founded in 2018, the company states they have 80 million listeners globally.
5. Skyroot Aerospace
- Full-time headcount: 260
- Headquarters: Hyderabad
- Year founded: 2018
- What they do: Hyderabad-based Skyroot Aerospace specialises in futuristic space-launch vehicle design and building. With its maiden mission Prarambh, the startup in 2022 became the first Indian private company to launch a rocket into space.
6. GoKwik
- Full-time headcount: 275
- Headquarters: New Delhi
- Year founded: 2020
- What they do: GoKwik offers data and technology-led solutions for eCommerce and D2C brands to improve customer experience across the shopping funnel and boost conversion rates and revenue growth.
7. Fi
- Full-time headcount: 400
- Headquarters: Bengaluru
- Year founded: 2019
- What they do: Fi is a financial app with an in-built savings account that also offers mutual fund investment options and other financial services like personal loans in partnership with regulated entities.
8. Sprinto
- Full-time headcount: 150+
- Headquarters: Bengaluru
- Year founded: 2019
- What they do: Sprinto automates Information Security compliances and privacy laws for software-as-a-service companies and helps monitor entity-level risks and controls.
9. Supersourcing
- Full-time headcount: 120
- Headquarters: Indore
- Year founded: 2020
- What they do: Supersourcing is a B2B AI-enabled platform for hiring remote engineers and provides pre-vetted developers to medium and small-sized businesses, enterprises, and funded startups.
10. GrowthSchool
- Full-time headcount: 180
- Headquarters: Bengaluru
- Year founded: 2021
- What they do: GrowthSchool partners with instructors to create cohort-based courses on personal and professional growth topics like marketing, design, and business.
11. Jar
- Full-time headcount: 180+
- Headquarters: Bengaluru
- Year founded: 2021
- What they do: Jar is an automated gold savings app that allows people to save spare change from their online transactions and invest it in digital gold, as well as offers manual and daily, weekly, or monthly savings options. Launched in 2021, the app currently has more than 1.5 crore users.
12. Shyft
- Full-time headcount: 70
- Headquarters: Gurugram
- Year founded: 2019
- What they do: Shyft, formerly known as Mindhouse, is a wellness and life management and tracking platform that offers health, yoga, nutrition, and dermatology programmes.
13. Teachnook
- Full-time headcount: 130+
- Headquarters: Bengaluru
- Year founded: 2021
- What they do: E-learning platform Teachnook offers students curated programmes to help them upskill in topics like Web3, Augmented Reality/Virtual Reality, business development, and performance marketing.
14. StockGro
- Full-time headcount: 60+
- Headquarters: Bengaluru
- Year founded: 2020
- What they do: StockGro aims to educate young investors about trading and investment. It allows people to build their trading skills in a simulated environment, follow experts and top investors, and also provides investment recommendations and portfolio management solutions.
15. Exponent Energy
- Full-time headcount: 185
- Headquarters: Bengaluru
- Year founded: 2020
- What they do: This startup is on a mission to simplify energy for electric vehicles (EVs) and offers a 15-minute rapid charging solution for EVs.
16. Housr
- Full-time headcount: 100
- Headquarters: Gurugram
- Year founded: 2019
- What they do: Focused exclusively on millennials and working professionals, Housr provides luxury co-living and accommodation solutions across five Indian cities and more than 75 properties.
17. AccioJob
- Full-time headcount: 190
- Headquarters: Gurugram
- Year founded: 2018
- What they do: Run by IIT Delhi alumni, ed-tech startup AccioJob offers courses around full-stack web development and data analytics
18. TravClan
- Full-time headcount: 190+
- Headquarters: New Delhi
- Year founded: 2019
- What they do: TravClan is a B2B platform offering business solutions for travel companies which include flight and hotel bookings, travel websites, payment gateways, and marketing material.
19. DotPe
- Full-time headcount: 450+
- Headquarters: Gurugram
- Year founded: 2019
- What they do: DotPe offers business solutions for omnichannel selling which include Point of Sale, e-commerce website, QR, payments, and delivery. It provides a full stack food tech offering for food and beverage companies
20. Fasal
- Full-time headcount: 170*
- Headquarters: Bengaluru
- Year founded: 2018
- What they do: Fasal is a full-stack platform for horticulture farming, which started with the mission of removing the guesswork from farming. Through its AI-driven platform, the company provides farmers farm-specific, crop-specific, and crop-stage-specific actionable advisory; and helps them reduce the cost of cultivation and increase quality and yield.
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