Kunal Shah’s Cred is the top-ranked start-up on LinkedIn

The four main factors that determine the finalization of start-ups include employee growth, job seeker interest, member engagement, and employee retention.

LinkedIn’s Top Startups List released Wednesday and featured Cred, a fintech startup led by Kunal Shah. UpGrad, an edtech company based in Mumbai, and Groww, an investment platform, landed the second and third spots respectively.

The fifth edition of this list, which is published annually, includes 25 Indian companies that are “rising to the challenges of today and continuing to innovate, gain attention in 2022.” It’s based on four factors: employee growth, jobseeker interests, member engagement within the company, and employees.

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Other notable names in the start-up ecosystem include Zepto, an e-grocery startup, Skyroot Aerospace and Rapido, a mobility company Rapido, Zypp Electric, and Zypp Electric Logistics, among others.

India’s start-up ecosystem is third in the world, after China and the USA. According to the LinkedIn report, Indian start-ups have raised more than $21 billion in funding between January and August 2022. UpGrad is the leader of the wave with $210 million in Series A funding.

It’s been difficult to start and grow a business, but it’s even more challenging right now. The report stated that the current economic climate is causing it to be more difficult for young businesses to obtain investment and grow rapidly. The ecosystem is also facing funding difficulties due to supply chain-crisis and inflation. Recent Ernst & Young reports revealed that July’s PE/VC investments were at their lowest level in more than a year. This was despite the fact that the volume and value of these investments stood at $3 billion. It is clear that investors are continuing to follow the investment path.

However, the LinkedIn report highlighted that, despite all of its challenges, India’s strong start-up ecosystem will play an important role in helping India reach $5 trillion by 2025.

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