- Date : 30/09/2022
- Read: 3 mins
This year, the most valued startup in India is the unified payments interface CRED. CRED's valuation stood at $6.4 billion and was in third place last year on the LinkedIn Top Startups list.
A statement by LinkedIn noted how CRED is not only known for its exciting and quirky ads but also for setting new standards for the well-being of its employees. It offers perks like mental wellness, personalized support, egg freezing, and ElderCare. The most valued startup in India is the unified payments interface CRED. CRED's valuation stood at $6.4 billion and was in third place last year on the LinkedIn Top Startups list.
upGrad bags the second spot this year as the startup is amongst our country's most prominent online higher education companies. It helps college students and professionals to upskill. The third position goes to Groww. Groww is a platform that objectively evaluates different investment opportunities through mutual funds and stocks. We see new entrants on the list this year, with Zepto (e-grocery company) at fourth, Spinny (full-stack car buying platform) at seventh, and Ditto Insurance (insurtech) at twelfth. These platforms help make essentials, mobility, and financials accessible readily for Indian consumers.
Ultrahuman, the fitness platform, bags the 19th spot, and Living Food, the marketplace for organic food, debuts this year on the 20th spot. We have 13 out of the top 25 startups from Bengaluru. Bengaluru is known as the "Silicon Valley of India" and stays true to its name. Interestingly, from August 1, 2021 - July 31, 2022, 58% of all jobs the startups posted on LinkedIn were in Bengaluru. Nirajita Banerjee, the LinkedIn News India Managing Editor, says the Indian startup ecosystem shows excellent resilience as India continues to witness a rise of never-before-seen startups. Around 68% of startups on the list are new entrants.
The new startups navigate the macro environment, which is always uncertain, and optimize their operations for growth that will remain sustainable. These startups take a smart and educated approach to scaling their businesses. She added how great it was to see young and aspiring professionals interested in and embracing the startup ecosystem in India. During joining, the hires in the top 25 startups stand at 56% below the age of 30 and 17% below the age of 25.
List of Top 25 Startups In India
- Skyroot Aerospace
- MBA Chai Wala
- The Good Glamm Group
- Ditto Insurance
- Living Food
- AgniKul Cosmos
- Stanza Living
- Pocket FM
- Zypp Electric
LinkedIn checked their data to compile the list from July 2021 - June 2022. It contained four main pillars: interest of job seekers, growth amongst employees, how well the startups took the talent from the Top Companies List on LinkedIn, and member engagement within the employees and company.
The startup ecosystem in India is increasing, growing, and strengthening. People who are engaged in this ecosystem attribute the success and growth of the ecosystem to two factors. One is the increasing number of aspiring entrepreneurs entering the industry, and the second is experienced and senior individuals who are quitting their jobs and creating their own startups. It seems like the Indian ecosystem is stepping onto the next level. While some might believe that India is behind China by a few years, India has the potential to be the next big growth story. The population in China is more than in India, and we can attribute that to more startups in China than in India. However, those numbers are rapidly changing, with 25 million children born in India yearly. We have the benefit of youth in our country and are ready for the next big chapter.