Kunal Shah led Cred with a market valuation of $6.4 billion top startup in India: LinkedIn

Credit card bill payment platform Cred, led by Kunal Shah with a market valuation of $6.4 billion, reached top position on the LinkedIn's 'Top Startups' list, from the third spot in 2021, the professional networking platform said on Wednesday.

Higher online education platform upGrad, run by Ronnie Screwvala, was at the second position and Lalit Keshre's homegrown online investment platform Groww was third on the annual list.

Satya Nadella, Chairman and CEO of Microsoft, recently joined Groww as an investor and advisor.

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

It's also great to see young professionals embrace India's startup ecosystem, "with 56 per cent of all hires in the top 25 startups being aged below 30, and 17 per cent aged below 25, at the time of joining," she added.

To prepare 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.


The list also features new entrants, including e-grocery company Zepto (at 4th spot), full-stack car buying platform Spinny (7th), and insurtech startup Ditto Insurance (12th).

Fitness platform Ultrahuman and organic food marketplace Living Food also debuted on this year's list.

With 13 out of the top 25 startups based out of Bengaluru, the city affirms its reputation as the Silicon Valley of India'.

Other startups on the list are Skyroot Aerospace, MBA Chai Wala, BluSmart, ShareChat, Rapido, AgniKul Cosmos, Pocket FM and Zypp Electric, among others, according to LinkedIn. - IANS