Bengaluru, NFAPost : LinkedIn, the world’s largest professional network, has launched the second edition of the LinkedIn Top Startups List for India, as determined by the actions of more than 60 million professionals on the platform. While OYO Hotels and Homes has retained its top position, health and fitness startup Cure.Fit is on the second spot.
The list reveals the 25 hottest Indian startups to work for in 2019 and how these companies influence growth and opportunity for the country’s workforce and the economy. The world’s third-largest hospitality chain, OYO Hotels and Homes has retained its pole position on the list by expanding its services across 80 countries and becoming a decacorn in 12 months.
With its foray into international markets and $100 million in annual revenue within three years of inception, health and fitness startup Cure.Fit has also maintained its 2nd rank. Breaking the pattern, the list welcomes online consultation platform TapChief at the 3rd spot. Alongside TapChief, the top 10 features three new entrants this year, including the world’s fastest growing bike sharing startup Bounce on the 5th spot, AI-driven crowdsourced marketplace Playment on the 6th spot and online doctor consultation platform mfine on the 9th spot.
Consumer Internet Startups
Consumer Internet startups retain their dominance on this year’s list, and showcase the emergence of healthcare, wellness, and e-learning startups that are embracing AI to offer accessible medical, wellness, and upskilling solutions for consumers. Making their debut on the list, startups like mfine (9th spot ) and Pristyn Care (21st spot) are providing AI-driven doctor-consultation and affordable surgical access with instant online access to doctors. As Indian companies invest in future-proofing their talent by proactively working towards bridging the skills gap, e-learning platforms InterviewBit (from 22nd spot in 2018 to 10th in 2019) and upGrad (from 21st in 2018 to 14th spot in 2019) have made significant strides on the list.
Commenting on the development, LinkedIn India Managing Editor Adith Charlie said India is the world’s second largest startup ecosystem and this made it incredibly exciting to curate the second edition of the Top Startups list.
“The list is symbolic of the thriving ecosystem, and features companies that are vanguards of key trends in e-learning, healthcare, and financial services. In terms of creating opportunity, the startup ecosystem continues to flourish by fulfilling employment needs across various industries in the midst of the economic slowdown. Our data shows that these 25 companies collectively created about 18,000 jobs in the past year, and are expected to create more than 19,000 new employment opportunities in the coming 12 months,” says Adith Charlie.
Nearly 50% of the companies on the 2019 Top Startups List for India are Bengaluru-based, including firms such as Cure.Fit (#2), TapChief (#3), Bounce (#5) and Udaan (#11), which further endorses Bengaluru’s status as the startup capital of India.
Here are the 2019 Top 25 Startups in India, in order of ranking:
1. OYO Hotels and Homes
8. Acko General Insurance
12. Little Black Book
18. Digit Insurance
19. Karza Technologies Private Ltd
21. Pristyn Care
22. WhiteHat Jr
25. Stanza Living
The 2019 LinkedIn Top Startups are ahead of the curve in fueling Access, Advancement, and Aspiration:
● AI is disrupting the healthcare/wellness industry: Companies today are actively integrating Artificial Intelligence and machine learning in their operations and services, in order to provide timely and convenient healthcare services. Marking their debut on the list, startups like mFine (#9) and Pristyn Care (#21) are providing AI-driven doctor-consultation and affordable surgical treatment with instant online access to doctors.
● Skilling is key as e-learning startups climb up the list: Indian companies are future-proofing their talent pools by proactively working towards bridging the skills gap in the current workforce. This active interest is amplifying the demand for online platforms that can provide relevant upskilling programmes to their workforce. This explains why e-learning platforms InterviewBit (from #22 in 2018 to #10 in 2019) and upGrad (from #21 in 2018 to #14 in 2019) have jumped to higher spots on the list, while WhiteHat Jr (#22) marks its debut this year.
● Internet companies dominate the list: Similar to previous year’s edition, we see several internet companies take up a number of spots on the list this year. This trend particularly highlights the fact that companies are now cognizant of how digital evolution plays a pivotal role in offering consumers ease of access to a wide range of products and services across industries. Consumer Internet services firms such as Playment (#6), Bounce (#5), mFine (#9) and Simpl (#16), and financial services such as Razorpay (#4) and StashFin (#20) dominate this trend.
● Startups are where the jobs are: The 25 companies on the list have collectively created approximately 18,000 jobs in the past year. These companies are now expected to create 19,000 new employment opportunities in the coming 12 months. The young professionals of today are drawn towards startups because budding firms often entrust their workforce with crucial responsibilities. This trusting, sometimes unconventional work culture, appeals particularly to those professionals who seek meaningful opportunities to fulfill personal career goals, while delivering a scalable impact on the overall growth of their organisations.
The Top 10 hottest startups in India and how they gained impetus in the last 12 months:
OYO Hotels and Homes extended its dominant streak by becoming a decacorn, venturing into the co-working space, and expanding its presence in the US and Europe to become the world’s third largest hospitality chain.
Cure.Fit successfully reintroduced fitness as a lifestyle, hitting $100 Million in annual revenue within just 3 years of inception; first private firm to announce expansion plans in Jammu & Kashmir.
TapChief is a 500 Startups-backed company that connects individuals and businesses with domain experts or ‘solopreneurs’. The gigs marketplace values spontaneity over bureaucracy: Job seekers are encouraged to point out chinks and suggest ways of improving the company’s product.
Razorpay shows renewed interest in strengthening its neo-banking and lending products by raising $75 Million for the same.
Bounce established itself as the world’s fastest growing bike sharing startup, merely 10 months within launching dockless scooters; all set to create 5,500 employment opportunities in coming months.
Payment is an AI-driven crowdsourced marketplace that allows companies to divvy up simple data processing tasks among a diverse workforce; employs people with quality not quantity work experience.
RIVIGO reinforces its position as a logistics unicorn, having recently been granted patent rights by the United States Patent and Trademark Office for its relay-truck model.
Acko forges alliances throughout the consumer internet economy by offering products in collaboration with companies like OYO Hotels and Homes, Ola and Amazon to name a few; three in five employees have a consumer tech-background, which fosters out-of-the-box ideation.
mfine is revolutionising the healthcare industry by offering AI-driven doctor consultation in association with leading hospitals; expected to on-board 2,500 physicians from 250 hospitals and hit 1,50,000 consultations a month.
InterviewBit offers holistic courses that prepare individuals for tech-based job interviews. The venture is expected to more than double its hiring rate over the next 12 months.
Top Startups Methodology
The Top Startups List methodology is based on the actions of LinkedIn members on the platform. They review data across four key pillars:
Employment growth (measured as percentage headcount increase over one year).Companies must have at least 15% employee growth over the time period to be eligible. Engagement with the company and its current employees (includes non-employee views and follows of the company’s LinkedIn page and non-employees views of employee profiles)
Job interest (what rate people are viewing and applying to jobs at the company, including both paid and unpaid postings). Attraction of top talent (measures how many employees the startup has recruited away from LinkedIn Top Companies, as a percentage of the startup’s total workforce). Data is normalised across all eligible startups. To be eligible, companies must be independent and privately held, have 50 or more employees, be 7 years old or younger and be headquartered in the country on whose list they appear.