LinkedIn has released its seventh annual report showcasing India’s top emerging startups based on data from the professional social-networking site. The report comes amid a booming environment for entrepreneurs in India, which has the third-largest startup ecosystem in the world and the second-highest number of unicorns globally as of 2022, outpacing China in 2020. According to the report by the Lee Kuan Yew School of Public Policy at the National University of Singapore, the number of startups in India rose 71.5% from about 20,000 in 2021 to over 34,000 in 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 headquartered in India, fully independent, privately held, with 50 or more full-time employees and a maximum of 5 years old were considered. The top 10 emerging startups in India, according to LinkedIn, include:
1.
Zepto (Technology, information, and internet)
2. Sprinto (Software development)
3. Lucidity (Software development)
4.
India’s growing startup ecosystem
Location (Social networking platforms)
5. Credit (Financial services)
6.
Uni (Internet marketplace platforms)
7. SourceBae (Internet marketplace platforms)
8. BiofuelCircle (Software development)
9.
Supersourcing (Technology, information, and internet)
10. Battery Smart (Transportation, logistics, supply chain, and storage)
Nirajita Banerjee, head of editorial for LinkedIn India and career expert, said, “Most of the startups in the top 10 are in the software and tech space, which demonstrates the dominance of this sector. 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.”
Four out of the top 10 startups this year are headquartered in Bengaluru, reinforcing the city’s position as a global startup hub.
However, Banerjee added, “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.”
The report highlights the dynamism and innovation driving India’s startup ecosystem, with these emerging companies leading the charge in their respective industries and shaping the country’s economic future.
