According to LinkedIn, EV, AI, and space technology companies are leading the way as Indian entrepreneurs continue to grow despite the country’s economic difficulties.
Due to the recent economic downturn, venture financing, layoffs, and leadership churn have decreased in Indian businesses. Nevertheless, despite all the doom, India’s space tech startup ecosystem has reached new heights, artificial intelligence-focused businesses are piqueing investors’ interest, and electric vehicle (EV) firms are supplying India Inc. with green transportation.
Twenty small businesses in the nation “have trailblazed their way through recent economic and workplace challenges and managed to stand out to investors and top talent along the way,” according to the sixth annual LinkedIn top-startups list.
They evaluated businesses according to four criteria for generating the list: employment growth, engagement, job interest, and acquisition of top talent. According to Them, the methodology’s time frame is from July 1, 2022, through June 30, 2023.
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The “Top Start-ups 2023” list for India showed that fintech startups were still in the lead. Four fintech startups—Ditto Insurance, Fi, Jar, and StockGro—made it onto their list this year. This year’s list also features significant startups in the edtech sector, including GrowthSchool (10), Teachnook (13), and AccioJob (17).
Staffing companies, think tanks, venture capital firms, legal firms, management and IT consulting firms, nonprofits and philanthropy, accelerators, and government-owned institutions have reportedly been left off of the list, according to them. Additionally, between July 1, 2022, and the list launch, startups who had laid off 20% or more of their workers according to corporate announcements or open, trustworthy sources were also eliminated from the list.
Here’s the full list of India’s Top Start-ups in 2023 by LinkedIn:
- ZEPTO
1400+ full-time employees
Corporate: Mumbai
founded in 2021-Zepto is a rapid commerce startup that delivers food and necessities throughout 10 Indian cities. The Mumbai-based business became India’s first unicorn of 2023 after raising $200 million in August.
2.BluSmart
620 full-time employees
Office location: Gurugram
Established in 2018
What they do: BluSmart uses its 4,500-strong fleet of electric vehicles to provide ride-hailing services in Delhi NCR and Bengaluru. The firm, which was established in 2019, intends to increase its fleet to 10,000 vehicles by the end of the year and invest additional money in installing electric chargers all throughout India.
3. Ditto Insurance
250+ full-time employees
Office location: Bengaluru
Established in 2018
What they do: This insurtech firm was established in 2018 and uses its web platform to assist customers in comparing plans, comprehending policies, and purchasing insuranc
- Pocket FM
480+ full-time employees
Office location: Bengaluru
Established in 2018
What they do: With a content collection of more than 100,000 hours, audio series platform Pocket FM provides audio entertainment in a variety of genres and Indian languages. The startup, which was founded in 2018, claims to have 80 million listeners worldwide.
- Skyroot Aerospace
260 full-time employees
Corporate: Hyderabad
Established in 2018
What they do: based in Hyderabad Skyroot Aerospace specializes in creating cutting-edge space launch vehicles. The startup made history in 2022 when it launched its first rocket into orbit, Prarambh, making it the first private enterprise from India to do so.
- GoKwik
275 full-time employees
New Delhi is the headquarters; formed in 2020
What they do: GoKwik offers eCommerce and direct-to-consumer brands data-driven and technological solutions to enhance customer experience along the purchasing funnel, increase conversion rates, and build revenue.
- FI : Full-time employees: 400
Office location: Bengaluru
founded in 2019
What they do: In collaboration with regulated organizations, Fi is a financial app with a built-in savings account that also provides alternatives for investing in mutual funds and other financial services like personal loans.
- Sprinto
150+ full-time employees
Office location: Bengaluru
founded in 2019
What they do: Sprinto assists in monitoring entity-level risks and controls while automating Information Security compliances and privacy regulations for software-as-a-service businesses.
- Supersourcing
120 full-time employees
Administration: Indore
founded in 2020
What they do: Supersourcing is a B2B AI-enabled platform that connects organizations and financed startups with pre-screened developers for remote engineering positions.
- GrowthSchool 180 full-time employees
Office location: Bengaluru
founded in 2021
What they do: GrowthSchool collaborates with professors to develop cohort-based courses on subjects like marketing, design, and business that are geared at both personal and professional development.
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