The Government of India’s ‘Startup India’ initiative, launched in January 2016, continues to play a pivotal role in fostering innovation and encouraging investments in the country’s burgeoning startup ecosystem. Over the years, India has become the third largest startup ecosystem globally, with a strong year-on-year growth rate of 15 percent in 2018. The Department for Promotion of Industry and Internal Trade (DPIIT ) also highlights 11 percent. cent increase in the number of incubators and accelerators, cementing India’s reputation as a global startup hub.
According to a report by Global Data, Indian startups raised $7.5 billion in venture capital funding between January and August 2024, demonstrating the confidence investors have in the country’s business landscape. S&P Global Market Intelligence forecasts that India’s nominal GDP will almost double to more than $7 trillion by FY31, making it the world’s third-largest economy by 2030. Global experts see India as a “bright spot” in the global economy, consolidating its place on the international stage.
Adding to this momentum, two Indian cities, Bengaluru and Mumbai, were ranked among the top 50 emerging cities globally, according to PitchBook, further demonstrating the country’s innovation prowess.
In this phase of growth, LinkedIn has published its seventh annual list of India’s top startups for 2024, identifying companies that are not only attracting the attention of investors but also leading advancement in their industries. The list celebrates companies that are expanding rapidly and delivering innovative solutions that are shaping the future of their respective sectors.
Top 10 Indian Startups of 2024
Topping the LinkedIn list is e-groceries startup Zepto, which became India’s first unicorn in 2023 after a year-long drought. Founders Kaivalya Vohra and Aadit Palicha, aged 21 and 22, have now secured their place as India’s youngest billionaires, with a net worth of Rs 3.6 billion and Rs 4.3 billion respectively, according to the Hurun Rich List 2024. Zepto’s rapid rise to prominence has made it the top Indian startup on LinkedIn by 2024.
Here are the top 10 startups in India, according to LinkedIn:
|
Range |
Company |
Industry |
Headquarters |
Year of foundation |
| 1 | Zepto | Technology, Information and Internet | Bombay | 2021 |
| 2 | Sprint | Software development | Bengaluru | 2019 |
| 3 | Lucidity | Software development | Bengaluru | 2021 |
| 4 | GrowthX | Social media platforms | Pune | 2021 |
| 5 | Jar | Financial services | Bengaluru | 2021 |
| 6 | wiingy | Internet market platforms | Bengaluru | 2021 |
| 7 | SourceBae | Internet market platforms | Indore | 2019 |
| 8 | BiofuelCircle | Software development | Pune | 2020 |
| 9 | Supercontracting | Technology, Information and Internet | Indore | 2020 |
| 10 | Smart battery | Transportation, Logistics, Supply Chain | Gurugram | 2019 |
First published: September 27, 2024 | 16:39 IS
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