LinkedIn released its seventh annual top startups list for India, showcasing the country's emerging companies based on data from the professional social-networking site.
The report comes amid a booming environment for entrepreneurs. In fact, India has the third-largest startup ecosystem in the world, according to official government site Startup India.
"As of 2022, the number of unicorns in India was second only to the U.S., having outpaced China in 2020," according to an August report published by the Lee Kuan Yew School of Public Policy at the National University of Singapore.
In addition, the report noted the number of startups in India rose 71.5% from about 20,000 startups in 2021 to over 34,000 startups 2023.
The list was compiled using LinkedIn data collected over a one-year period tracking employment growth, engagement, job interest and attraction of top talent. Only companies that are headquartered in India, fully independent, privately held, have 50 or more full-time employees and are a maximum of 5 years old were considered.
These are the top 10 emerging startups in India, according to LinkedIn:
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1. Zepto
Money Report
Industry: Technology, information and internet
Headquarters: Mumbai, India
Full-time headcount: 2,500+
Most common skills: Third-party logistics, cataloging, inventory management
Most common job titles: Software engineer, business operations manager, category manager
2. Sprinto
Industry: Software development
Headquarters: Bengaluru, India
Full-time headcount: 200+
Most common skills: Lead generation, account management
Most common job titles: Full stack engineer, customer experience manager, business development representative
3. Lucidity
Industry: Software development
Headquarters: Bengaluru, India
Full-time headcount: 70+
Most common skills: Data structures, lead generation, Java
Most common job titles: Software engineer, cloud consultant
4. GrowthX
Industry: Social networking platforms
Headquarters: Pune, India
Full-time headcount: 50+
Most common skills: Video editing, content strategy, market research
Most common job titles: Software engineer, curriculum developer, video editor
5. Jar
Industry: Financial services
Headquarters: Bengaluru, India
Full-time headcount: 300+
Most common skills: Design thinking, critical thinking, Kotlin (programming language)
Most common job titles: Software engineer, product manager, mobile application developer
6. Wiingy
Industry: Internet marketplace platforms
Headquarters: Bengaluru, India
Full-time headcount: 50+
Most common skills: Teaching, e-learning, critical thinking
Most common job titles: Teacher, technical support representative, mathematics tutor
7. SourceBae
Industry: Internet marketplace platforms
Headquarters: Indore, India
Full-time headcount: 50+
Most common skills: Bootstrap (Framework), screening, human resources, negotiation
Most common job titles: Web developer, software engineer, talent acquisition specialist
8. BiofuelCircle
Industry: Software development
Headquarters: Pune, India
Full-time headcount: 50+
Most common skills: Customer relationship management, business analysis, digital marketing
Most common job titles: Business development manager, sales executive
9. Supersourcing
Industry: Technology, information and internet
Headquarters: Indore, India
Full-time headcount: 100+
Most common skills: Recruiting, Bootstrap (Framework), human resources
Most common job titles: Software engineer, talent acquisition specialist, product manager
10. Battery Smart
Industry: Transportation, logistics, supply chain and storage
Headquarters: Gurugram, India
Full-time headcount: 400+
Most common skills: Third-party logistics, negotiation, operations management
Most common job titles: Business operations manager, software engineer, sales executive
This year, "most of the startups in the top 10 are in the software and tech space which demonstrates the dominance of this sector," head of editorial for LinkedIn India and career expert Nirajita Banerjee told CNBC Make It, pointing at names such as Zepto, Sprinto and Lucidity which landed in the top three.
"These companies aren't just growing fast and garnering attention from investors and jobseekers — they're also building innovative solutions that are shaping the future of their industries," according to the report released on Wednesday.
In addition, four out of the top 10 startups this year are headquartered in Bengaluru, reinforcing the city's position as a global startup hub.
"While Bengaluru continues to be India's 'Silicon Valley'... we are seeing a diversification with startups now emerging from Tier 2 cities such as Indore and Pune," added Banerjee.
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