CRED, upGrad, Groww & Zepto are the top startups where Indians want to work: LinkedIn

LinkedIn has revealed the top 25 startups 'where India wants to work and grow' based on the activity of more than 92 million professionals on the networking platform. The four unicorns — CRED, upGrad, Groww and Zepto — topped the 'LinkedIn Top Startups List for India 2022'.

In order of ranking, Skyroot Aerospace, MBA Chai Wala, Spinny, The Good Glamm Group, GrowthSchool and BluSmart complete the Top-10.

To compile this year's list, the platform looked at employee growth, job seeker interest, member engagement within the company and its employees and how well these startups pulled talent from LinkedIn's Top Companies list.

"The Indian startup ecosystem displays great resilience as we continue to see the rise of new startups with 68 percent of entrants on the list appearing for the first time," said Nirajita Banerjee, Managing Editor at LinkedIn News India.

The list features sunrise sectors with startups operating in the electric vehicles and mobility ecosystem — BluSmart (10th), Rapido (14th), Park+ (16th) and Zypp Electric (20th). Also, India's spacetech startups that have found the escape velocity to take off with new launches this year — Skyroot Aerospace (5th) and Agnikul Cosmos (22nd).

Fitness platform Ultrahuman (19th) and organic food marketplace Living Food (20th) debuted on this year’s list by enabling consumers to lead a conscious and healthy lifestyle.

"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," Banerjee said.

Since the beginning of this year, with the funding winter turning into a layoffs season, at least 12,000 employees have been let go at more than 40 startups.

Understandably, most of these startups didn't make it to LinkedIn's list, as startups that have laid off 20 percent or more of their workforce within the methodology time frame were ineligible. Last year's toppers — Unacademy and Udaan — have made their way out, after carrying out lay-offs this year.

On the other hand, the 25 startups on the list increased headcount over the methodology time frame — July 1 , 2021 to June 30, 2022 — by a minimum of 10 percent. "It's great to see young professionals embrace India’s startup ecosystem, with 56 percent of all hires in the top 25 startups being aged below 30, and 17 percent aged below 25, at the time of joining," said Banerjee.

So, it's not all gloom. Commenting on this year's topper, LinkedIn said, "Besides gaining popularity for its quirky ads in the past two years, CRED is also setting new benchmarks for employee wellbeing by offering benefits such as ElderCare, egg freezing, and one-on-one support for mental wellness to its employees."

Cred is not alone in offering such employee-friendly benefits as the 'Great Resignation', 'Quiet Quitting' and 'Moonlighting' grab headlines. From afternoon naps and side-gigs to lucrative employee stock ownership plans (ESOPs), startups are going all the way to keep their staff satisfied.

In order of ranking, here’s a list of the 25 companies that made it to the LinkedIn Top Startups 2022 India list: