CRED, upGrad, Groww, Zepto top LinkedIn's Indian startup list

Professional social media networking site LinkedIn on Wednesday released a list of top 25 Indian startups that it believes have continued to show strong growth.

Wednesday September 28, 2022 , 2 min Read

Fintech firms CRED and Groww, and edtech firm upGrad topped LinkedIn's list of top 25 Indian startups in India, the professional networking site said on Wednesday.

Zepto placed fourth, while car buying website Spinny placed seventh, cloesly followed by Ditto Insurance and health-focussed startups Ultrahuman and Living Food.

LinkedIn said it drew up its list based on four parameters to create its ranking for the July 2021-June 2022 period:

Employee growth
Jobseeker interest
Member engagement within the company and its employees
How successful these startups were in attracting talent from its LinkedIn Top Companies list

CRED moved from third place in 2021 to claim the top spot based on the benefits it offers employees vis-a-vis well-being, such as offering elder care, egg freezing, and mental health services. According to LinkedIn, CRED has set "new benchmarks" when it comes to employee well-being.

The fintech company's CEO and founder, Kunal Shah, took to Twitter to reflect on the ranking, and said that a philosophy CRED tries to live by is not seeing "people as a commodity to be managed" that can help an organisation grow its money, but think of money as a commodity to be managed to help its people grow-a quote by Simon Oliver Sinek, an American author.

Humbled to be ranked #1 startup by Linkedin.

Principle we try to live by :

Great organisations don’t see people as a commodity to be managed to help grow their money, they think of money as a commodity to be managed to help grow their people. - Sinekhttps://t.co/8hS15FaoY3
— Kunal Shah (@kunalb11) September 28, 2022

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Startups face a moment of reckoning as employees ditch the hustle culture

"The Indian startup ecosystem displays great resilience as we continue to see the rise of new startups with 68% of the entrants on the list appearing for the first time," said Nirajita Banerjee, LinkedIn News India's managing editor.

"These startups are navigating the uncertain macro environment by optimising their businesses for sustainable growth and taking a more prudent approach towards scaling their businesses," she added.

Nirajita pointed out that 56% of all hires in the top 25 startups were below the age of 30, while 17% were below 25-an indication that young professionals were increasingly gravitating toward the Indian startup ecosystem.

Here's the full list: