 "CRED, upGrad, Groww on LinkedIn's 'Top Startups in India' list")
Unified payment interface CRED, online higher education firm upGrad and investment platform Groww have topped the LinkedIn 'Top Startups List' for this year.
CRED valued at USD 6.4 billion, topped the list of startups, followed by upGrad and Groww in the second and third place, respectively.
This year's list also features new entrants, including e-grocery company Zepto (at the fourth place), full-stack car buying platform Spinny (7th), and insurtech startup Ditto Insurance (12th).
Fitness platform Ultrahuman ranked 19th on the list, while organic food marketplace Living Food (20th) also debuted on this year's list by enabling consumers to lead a conscious and healthy lifestyle.
The top ten startups on the list also include Skyroot Aerospace (5th), MBA Chai Wala (6th), The Good Glamm Group (8th), GrowthSchool (9th) and BluSmart (10th).
According to LinkedIn, 13 out of the top 25 startups are based out of Bengaluru, the city affirms its reputation as the 'Silicon Valley of India'. "In fact, 58 per cent of all the jobs posted by these startups on LinkedIn during the same period from August 1, 2021 to July 31, 2022 were based out of Bengaluru," it said.
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"These startups are navigating the uncertain macro environment by optimising their businesses for sustainable growth and taking a more prudent approach towards scaling their business," Nirajita Banerjee, Managing Editor at LinkedIn News India, said.
To compile this year's list, LinkedIn looked at platform data from July 2021 to June 2022 across four pillars: employee growth; jobseeker interest; member engagement within the company and its employees; and how well these startups pulled talent from its flagship LinkedIn Top Companies list.