Linkedin Published Top 20 Indian Companies that are on rise

LinkedIn shared annual list of the Top Startups in India! This list highlights 20 emerging companies that you should keep an eye on. These startups are not just growing quickly; they are also attracting attention from investors and job seekers. They are working on innovative solutions that are changing the game in their industries. Examples include two-minute EV battery-swapping stations and ‘Salary On-Demand’ services for employees.

The list is based on exclusive LinkedIn data focusing on four main areas:

• Employee Growth: How fast the company is hiring.
• Jobseeker Interest: How much attention the company is getting from job seekers.
• Employee Engagement: How well the company keeps its employees engaged.
• Talent Attraction: How effectively these startups are attracting talent from established companies.

To make it to the list, companies must meet the following criteria:

• Be headquartered in India.
• Be fully independent and privately held.
• Have 50 or more full-time employees.
• Be 5 years old or younger.

Check out this year’s Top 20 Indian Companies that are on rise

#LinkedInTopStartups.

1. Zepto

Zepto, the quick commerce startup, has a valuation of $5 billion following its recent funding round, where it raised $340 million. This is a significant increase from its earlier valuation of $1.4 billion just a year prior, indicating rapid growth in the quick commerce sector in India

report shared by MoneyControl , Hindustan Times

Company Statistics:

• Founded: 2021
• Current Valuation: $5 billion
• Total Funding Raised (2023-2024): Over $1 billion
• Full-time headcount: 2613
• Number of Dark Stores: Approximately 350+ in major cities and plans to double its dark store to 700+ by March 2025 ( Hindustan Times )

2. Sprinto

Sprinto is a platform that helps SaaS (Software as a Service) companies with compliance. Founded in 2020 and based in San Francisco, Sprinto makes it easier for businesses to meet important regulations like SOC 2, ISO 27001, GDPR, and HIPAA. Their system allows companies to monitor their compliance status in real time, saving them time and effort.

Market Cap and Funding:

• Total Funding Raised: Sprinto has raised around $31.8 million so far.
• Recent Funding: They recently secured $20 million in funding in April 2024, led by Accel, with support from Elevation Capital and Blume Ventures(
• Estimated Revenue: Their revenue is between $10 million and $50 million, with about $35 million reported as of August 2024(

Growth and Client Base:

Since starting, Sprinto has grown quickly. They saw a three-fold increase in customers in 2023. Currently, they serve over 1,000 clients across more than 75 countries, mainly in the USA and Europe ( Entrackr)(LeadIQ). The company employs around 296 people(LeadIQ).

Industry Position:

Sprinto is part of the Software Development industry. Their technology helps companies automate compliance, which is crucial for fast-growing SaaS businesses(LeadIQ).

For more information, you can check out Sprinto's official website or find details about their funding and growth in recent articles.

3. Lucidity

What is Lucidity? Lucidity is a cloud-based company that helps businesses manage their health, safety, and quality processes. Their platform allows workers to report issues and incidents, making it easier for managers to keep track of safety and compliance in real time.

Market Cap and Value

• Estimated Value: As of June 2024, Lucidity is valued at about $21.9 million (Tracxn)

Company Details

• Founded: 2021
• Location: Bengaluru, India
• Employees: 57
• Funding: They have raised around $5.8 million through funding rounds, with the latest one happening in June 2022 (Tracxn)

Investors

Lucidity has gained support from well-known investors like:

• Alpha Wave Global
• Beenext
• Sequoia Capital

These investors are known for backing innovative startups (GRC Software Management Solutions).

Clients

Lucidity works with various companies in different industries. Some of their clients include:

• Acciona Australia (infrastructure)
• Cargill (agriculture)
• Meinhardt Group and Metricon Homes (construction)

Their solutions help these companies improve safety and streamline compliance(GRC Software Management Solutions).

Conclusion

Lucidity is a growing startup focused on making safety management easier for businesses. With significant funding and a strong client base, they are poised to make a positive impact in the health and safety sector.

4. GrowthX®

GrowthX is a 3,500+ member community of people in marketing, product, strategy & early founders. Our members lead growth & product orgs for some of the marquee internet companies such as Jio , Swiggy , Razorpay , Zerodha , Lenskart.com , Freshworks & more.

Market Capitalization As of March 2022, GrowthX raised a total of $1.5 million in its seed funding round. The company had a post-money valuation of approximately $9.06 million during this round(Tracxn)(Entrackr).

Key Highlights

• Funding: The company successfully completed a seed funding round on March 21, 2022, raising $1.5 million. This funding was led by Better Capital, with participation from various investors, including 212 VC and over 200 founders and leaders from notable companies like Razorpay, Airbnb, and Freshworks (Entrackr).
• User Base: GrowthX has assisted over 1,000 founders and professionals, showcasing a strong community of members from leading companies such as Google, Facebook, and Amazon(
• Growth Focus: The platform emphasizes collaboration and learning among its users, fostering an environment where professionals can share insights and strategies to navigate the business landscape effectively (Entrackr).

Summary

In summary, GrowthX is a promising social learning startup with a solid foundation for growth. With its innovative approach and community-driven model, it stands out as a key player in the entrepreneurial ecosystem in India.

5. Jar

Jar is a Bengaluru-based fintech startup that enables users to invest in digital gold and encourages savings through a mobile app. Founded in 2021 by Nishchay Ag and Misbah Ashraf, Jar focuses on simplifying the process of investing small amounts in gold.

Market Capitalization As of January 2023, Jar is valued at $306 million following several funding rounds. The company has raised a total of $61.6 million from various investors, including Tiger Global Management and Rocketship(Tracxn)(FT Markets).

Key Highlights

• Funding History: Jar's funding journey includes a Series B round in August 2022, where it raised $22.6 million(Tracxn).
• User Engagement: Recently, Jar partnered with PhonePe to launch a feature that allows users to invest as little as ₹10 in digital gold(Tracxn).
• Employee Growth: The company employs around 282 people, showing significant growth over the past year(Tracxn).

Competitors Jar competes with companies like GoldMoney and Augmont but currently ranks as a leader in the digital gold investment sector(Tracxn).

6. Wiingy

Wiingy is an online tutoring marketplace that matches students with expert-vetted tutors in 350+ subjects including coding, math, science, AP, language learning, and music.

Founded: 2021 Location: Bengaluru, India Valuation: Approximately $4.08 million Total Funding: $406,000 (1 round)

Revenue:

• FY 2023: $123,000
• Net Profit: -$200,000

Employee Count: 650

Key Insights:

• Focus Area: Wiingy offers online tutoring and technology courses primarily aimed at school and university students.
• Growth: The company has expanded significantly, with a 138.9% increase in employee count from the previous year.
• Investors: Backed by notable investors like Aroa Venture Partners and RA Hospitality.

For more details, you can visit their website at wiingy.com and follow their growth in the ed-tech sector.

7. SourceBae

SourceBae leverages advanced AI technologies to streamline hiring, making it quick, efficient, and exceptionally accurate to meet your business's specific needs. Here's how we transform your hiring experience:

• Founded: 2021
• Location: Indore, India
• Employee Count: 39 as of February 2024
• Market Focus: SourceBae operates as an online freelancer marketplace, primarily for tech jobs. It connects developers with job opportunities based on their skills, experience, and preferences, allowing direct communication with employers.
• Funding Status: SourceBae is currently unfunded and has not raised any rounds of investment yet.
• Revenue: The company reported revenue of $112,000 for the financial year ending March 31, 2022.

Featured Clients of SourceBae

SourceBae, a platform specializing in connecting tech talent with companies, has built a diverse client base across various industries. Here are some notable clients:

1. Indus Valley Partners - Known for its investment and technology solutions.
2. Zomato - A popular food delivery and restaurant aggregator.
3. Haptik - A leading conversational AI platform.
4. Paytm - A well-known digital payments and financial services company.
5. Meesho - An e-commerce platform focusing on social commerce.

SourceBae serves over 400 clients across multiple countries, making it a significant player in the remote hiring space(SourceBae)(Product Hunt).

Key Features of SourceBae

• Talent Pool: SourceBae has access to 18,000+ startup-ready candidates.
• Experience: Over 10,000 matches have been made, indicating the platform's effectiveness in connecting businesses with suitable talent(SourceBae)(Product Hunt).

SourceBae is making strides in the freelancing market, aiming to help tech professionals find suitable jobs efficiently.

8. BiofuelCircle

Biofuelcircle is a digital platform for biomass and biofuel supply chains.

Biofuelcircle uses advanced digital tools to help integrate this supply chain. It is also bringing on board a broad range of services to become a true supply chain partner to bioenergy companies.

• Founded: 2020
• Location: Pune, India
• Market Focus: BiofuelCircle is a biomass and biofuels marketplace aiming to streamline the supply chain by connecting farmers with storage facilities and industrial consumers(Entrackr)(Tracxn).
• Funding: Recently, BiofuelCircle raised ₹45 crore (approximately $5.3 million) in funding led by Spectrum Impact. The company has been valued at around ₹282 crore ($34 million) post-funding(Entrackr). Before this round, BiofuelCircle raised $2 million from various investors, including Spectrum Capital and Better Capital(Entrackr)(Tracxn).

Growth Statistics:

• Operating Revenue: Grew fivefold to ₹11 crore for the fiscal year ending in 2023.
• Losses: Increased by 80% to ₹6.8 crore during the same period(Entrackr)(Tracxn).

BiofuelCircle aims to build a reliable supply chain for biomass and biofuels, with plans to enhance its services further as it competes in a growing industry.

9. Supersourcing

Supersourcing is India's leading HR Tech Startup, trusted by over 1000 funded companies, VCs, MIT DeltaV, Harvard Innovation Labs, and YCombinator-funded startups. With a proud track record of successfully placing over 10,000 developers on contract, we are reshaping the digital landscape of work!

Market Position and Overview: SuperSourcing, founded in 2020 and based in Indore, Madhya Pradesh, is a dynamic player in the recruitment sector, particularly focusing on tech talent sourcing. The company aims to simplify and accelerate the hiring process for startups and established businesses looking for skilled engineers and developers. With a current employee count between 61 to 100, SuperSourcing is well-equipped to handle various client needs (Clutch)(YourStory).

Funding and Financial Stats: SuperSourcing has successfully raised a total of $1 million in funding, primarily through seed investments. Notable investors include Ritesh Malik and Vijay Shekhar Sharma, enhancing its credibility in the tech recruitment space(YourStory).

Services Offered: SuperSourcing provides a marketplace for businesses to find and connect with verified IT agencies. These agencies are typically staffed by teams of 10 to 100 employees and possess proven expertise in various industries. The platform emphasizes quality and speed, ensuring businesses can onboard developers swiftly(Clutch).

Key Highlights:

• Founders: Mayank Pratap (CEO) and Aditi Chaurasia (COO)
• Established: 2020
• Headquarters: Indore, Madhya Pradesh, India
• Number of Employees: 61 to 100
• Total Funding: $1 million
• Main Services: Tech talent sourcing, developer placement, and ongoing support

Client Satisfaction and Impact: SuperSourcing has garnered positive feedback from clients, with many noting improved hiring times and increased development speed post-engagement. The company's focus on client needs and proactive communication has resulted in high satisfaction ratings(Clutch)(YourStory).

In summary, SuperSourcing is carving a niche in the tech recruitment landscape by efficiently connecting businesses with top-tier tech talent, making it a startup to watch in the coming years.

10. Battery Smart

Battery Smart is an innovative electric vehicle (EV) startup focused on providing battery-swapping solutions. Recently, they secured $65 million in a Series B funding round led by LeapFrog Investments, which will aid in expanding their extensive network of battery-swapping stations across India(ObserveNow Media)(The Shillong Times).

Key Statistics and Insights

• Market Expansion: Battery Smart has grown rapidly since its inception, boasting 1,000 battery-swapping stations in 30 cities across India(
• Operational Success: The company has successfully completed over 35 million battery swaps, serving 45,000 active customers(ObserveNow Media)
• Future Goals: Battery Smart projects that India's vehicle market will see a rise to 200 million two-wheelers and 12 million three-wheelers by 2030, indicating a large potential customer base for their services

With the new funding, Battery Smart is poised to enhance its technology and increase its market presence, contributing to the broader adoption of electric mobility in India

11. Scrut Automation

Scrut Automation is a cloud-based platform specializing in Governance, Risk, and Compliance (GRC) solutions, launched in 2021. The company focuses on helping mid-market businesses, particularly in heavily regulated sectors like healthcare and fintech, streamline their compliance and risk management processes(Robotics & Automation News)(HIT Consultant).

Funding and Financials

• Total Funding: Scrut Automation has raised $20.5 million in total funding, with the latest round securing $10 million from investors such as Lightspeed and MassMutual Ventures(
• Market Focus: The company targets tech-first mid-market organizations that face compliance challenges, particularly those with limited resources(

Key Features of Scrut Automation

• Automation: Scrut's platform automates more than 70% of control tests, allowing for efficient compliance management and reducing manual effort(
• Real-Time Insights: The system offers real-time visibility into compliance and risk posture, enabling proactive management(
• Integration: Scrut integrates with over 75 tools, providing a unified compliance framework that simplifies the monitoring and management of various controls(

Client Impact Since its inception, Scrut has serviced over 800 customers globally, significantly enhancing their compliance capabilities and risk management strategies(HIT Consultant). The platform is designed to reduce the complexity and costs associated with compliance, making it an attractive option for mid-sized companies(HIT Consultant).

For a detailed overview of Scrut Automation's offerings and impact on businesses, you can visit their official website.

12. MindPeers

MindPeers is a mental health startup that leverages technology and human expertise to improve mental well-being. It targets both individuals and businesses, offering a subscription-based service that focuses on mental fitness. With the increasing awareness around mental health, especially in India, MindPeers is making strides to provide effective solutions.

• Founded: 2020
• Headquarters: Delhi, India
• Industry: Healthcare
• Number of Employees: Approximately 100+
• Total Funding: ₹7.33 Cr (approximately $880,000)
• Revenue (FY 2022-23): ₹1.44 Cr (approximately $174,000)
• Net Loss (FY 2022-23): ₹1.37 Cr (approximately $165,000)Services and Features

MindPeers combines mental fitness programs with measurable metrics through a mobile application. The service includes:

• Personalized Interventions: Tailored mental health interventions based on individual needs.
• Neuroscience Games: Innovative tools designed to enhance mental well-being.
• B2B Contracts: Provides mental health solutions for companies looking to support their employees' mental health.

User Base and Market Reach

MindPeers currently has around 350,000 active users and has expanded its reach to international markets, including the UK, US, and Singapore.

Financial Performance

In October 2022, MindPeers reported sales of ₹16.5 lakhs, with significant revenue coming from both B2C and B2B segments. The company has established a solid foundation for future growth with ongoing contracts in the pipeline(TheKredible)(Professionalsaathi).

Noteworthy Events

MindPeers gained attention after appearing on Shark Tank India , where they secured a deal of ₹1.06 crore for a 2% equity stake, showcasing investor confidence in their innovative approach to mental health care (Professionalsaathi).

Overall, MindPeers is positioning itself as a pivotal player in the mental health sector, offering valuable services that cater to the growing need for mental health awareness and support in India and beyond. For more details, you can explore their official website or check financial insights on platforms like The Kredible.

13. Oben Electric

Oben Electric is a burgeoning player in the Indian electric vehicle market, particularly focusing on electric motorcycles. The company recently secured over ₹116 crore (around $14 million) in funding and aims to raise an additional ₹166 crore (about $20 million) in the upcoming fiscal year. This capital will primarily support network expansion and the launch of two new electric motorcycle models in the 110–150 cc category(EVMechanica)(EMobility+).

Key Statistics:

• Funding Raised: ₹116 crore in debt and equity; plans to raise ₹166 crore more.
• Dealership Expansion: Oben Electric intends to open 50 new retail locations in various Indian cities, including Pune, Kerala, and Delhi(
• Bookings: The company received around 20,000 bookings during its launch period(
• Production Capacity: Plans to scale production to 100,000 units within the next 2-3 years(

Innovative Offerings: Oben Electric stands out with its Oben Rorr electric motorcycle, which features:

• A 10 kW motor capable of accelerating from 0-40 km/h in just 3 seconds.
• A certified range of 187 km on a single charge, the highest in its category in India(
• Charging time: The bike’s 4.4 kWh battery can be fully charged at home in approximately 120 minutes (EVMechanica)(EMobility+).

Market Position: As the electric motorcycle segment gains traction in India, Oben Electric is well-positioned, anticipating a surge in sales as consumers increasingly consider electric options. The company is focusing on maintaining competitive pricing while emphasizing the low cost of ownership (EVMechanica)(EMobility+).

For more detailed insights, you can check (EVMechanica)(EMobility+).

14. Convin

Convin, an AI-powered conversation intelligence platform, is reshaping how customer-facing teams—like sales, support, and collections—operate in industries such as fintech, edtech, real estate, and more. Founded in 2021 by IIT-Delhi alumni

• Founded: 2021
• Funding: Raised $6.5 million in Series A (August 2024), led by India Quotient(
• Focus: Convin offers AI-based tools for improving sales, support, and collections teams' efficiency through conversation tracking and analysis. Their key product suites include the Real-Time Suite, Post-Interaction Suite, and Convin Insights Suite, helping tackle common business challenges like agent inefficiency and poor customer experience(
• Clients: Over 80 clients, including major brands such as Reliance Nippon, Titan, Thyrocare, and Lazypay.
• Future Projections: Aims for 3x revenue growth and a 200% increase in new customers by 2025(Entrackr).

15. GIVA

GIVA is a fast-growing Indian jewelry brand, established in 2019, that specializes in certified silver jewelry and has expanded into 14K and 18K gold and lab-grown diamonds. The company is known for blending traditional craftsmanship with modern designs, offering premium jewelry at affordable prices.

Key Facts:

• Revenue (FY23): ₹165 crore
• Losses (FY23): ₹45 crore, up 2.4x from FY22(
• Funding: Raised ₹270 crore in Series B, led by Premji Invest(
• Valuation: ~$250 million after Series B(

Market Strategy:

• Sales Focus: 85% of revenue comes from online sales(
• Expansion: Opening 400 stores across Tier I and II cities(
• Phygital Approach: Combining physical retail with online sales to maximize reach.

GIVA is positioning itself as a key player in India's jewelry market by leveraging a mix of affordability, innovation, and customer-centric services.

16. TravClan

TravClan is a rapidly growing B2B travel tech platform designed to help travel agents sell travel services online with ease. Founded by Arun Bagaria, Chirag Agrawal, and Ashish Thapliyal in 2018, TravClan enables agents to build websites, handle bookings, and manage payments seamlessly, improving operational efficiency.

Key Facts:

• Business Focus: Digital solutions for travel agents, including custom website creation and streamlined booking/payment management.
• Innovation: Launched the Ontrip App—a digital concierge service offering round-the-clock support to travelers.
• Achievements: Featured in LinkedIn's Top 20 Startups in India for two consecutive years (2023 & 2024)(

Growth Strategy:

• Ambitious Goal: Empower 10 million SMBs in the travel industry and drive $10 billion GMV by 2025(
• Post-COVID Surge: Experienced a 10x increase in bookings post-pandemic due to rising travel demand(

TravClan’s innovative approach is transforming how small and medium-sized travel businesses operate, making it easier for them to thrive in a competitive, digital-first market.

17. Bijak

Bijak is a B2B platform that facilitates agricultural commodity trading, offering solutions to reduce the inefficiencies in the supply chain. The platform aims to bridge the gap caused by information asymmetry and lack of accountability within the agricultural sector. Headquartered in Gurugram, India, Bijak helps buyers and sellers negotiate better prices, provides access to working capital, and streamlines logistics. It also introduces a rating system based on real-time transaction data, ensuring greater transparency and trust between parties.

Key Features Bijak’s platform is built to support farmers and traders by offering benefits like faster loan disbursals, optimized logistics, and effective payment solutions. Additionally, it functions as a bookkeeping tool for its users, allowing them to manage transactions and monitor trade activities easily. The rating system gives traders insights into reliable partners, thus fostering trust and accountability.

Company Stats

• Founded: 2019
• Headquarters: Gurugram, Haryana
• Employee Strength: 331 (as of 2024)
• Total Funding: $33.7M raised from investors including Omnivore, Lightspeed India Partners, and Omidyar Network.
• Competitors: Key competitors include DeHaat and Agri Marketplace(

Bijak continues to make strides in revolutionizing the agritech sector, providing essential solutions to India’s farming and trading communities.

18. GoKwik

GoKwik is a fast-growing Indian startup founded in 2020 that offers a software platform designed to improve the shopping experience on e-commerce sites. The company specializes in helping Direct-to-Consumer (D2C) brands and e-commerce platforms enhance customer conversion rates and optimize their payment processes. With headquarters in New Delhi, GoKwik provides tailored solutions that ensure a smooth and efficient checkout experience, helping brands address cart abandonment, fraudulent transactions, and other barriers in the online shopping journey.

Key Facts about GoKwik:

• Founded: 2020
• Headquarters: New Delhi, India
• Industry: E-commerce enablement and business productivity software
• Total Funding: Over $60 million
• Employees: 334 as of 2023
• Key Investors: Sequoia Capital, Matrix Partners, and RTP Global

GoKwik's focus is on providing advanced AI and machine learning-driven solutions for e-commerce, which has helped the company establish partnerships with top e-commerce brands. It aims to become a "soonicorn," meaning it is on track to achieve unicorn status in the near future.

Their services include enhanced payment gateway solutions, fraud prevention tools, and optimization features that directly contribute to increased revenue for their clients. By solving core challenges like payment failures and returns, GoKwik continues to attract more businesses looking to boost their e-commerce success(PitchBook)(Tracxn).

19. Refyne India

Refyne is revolutionizing how employees in India access their wages by offering a real-time earned wage access (EWA) platform. Founded in 2020 by Chitresh Sharma and Apoorv Kumar, Refyne allows employees to withdraw a portion of their earned salary before the actual payday. This innovative approach addresses financial instability and promotes employee wellness by enabling better cash flow management.

Refyne’s services are integrated with employers’ payroll systems, allowing seamless withdrawal of wages, reducing employee stress, and helping them avoid high-interest loans or financial burdens.

Key Highlights:

• Founded: 2020
• Headquarters: Bengaluru, India
• Total Funding Raised: $106 million, backed by prominent investors like Tiger Global and DST Global.
• Employee Count: 173 (as of 2023).
• Primary Service: Earned Wage Access (EWA), focusing on providing financial wellness solutions for employees.

Refyne’s platform has gained significant traction due to its practical solution to employees' cash flow challenges, especially in India’s vast workforce. Their partnership with major corporations ensures that millions of employees can manage their financial needs without waiting for payday(Craft.co)(PitchBook).

20. Plum

Plum technology company based in India that focuses on providing employee health benefits and insurance. Founded in 2019 by Abhishek Poddar and Saurabh Arora, Plum aims to simplify employee health management for businesses and enhance employee well-being.

Key Facts about Plum:

• Valuation: Plum is currently valued at $83 million as of June 2024(
• Funding: The company has raised a total of $20.7 million in funding through three rounds, with the latest round being a Series A of $15.7 million in May 2021(
• Employees: Plum has around 46 employees, reflecting significant growth and focus on scaling operations(
• Investors: Notable investors include Tiger Global Management and India Internet Fund, among others(
• Market Position: Plum ranks as a minicorn in the industry, with its main competitors including Accolade and Hinge Health

Plum's unique approach combines technology and user experience to deliver health benefits seamlessly, targeting small and medium-sized enterprises looking to provide better health coverage to their employees.

For more detailed insights about Plum, you can visit Tracxn.

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