LinkedIn Top Startups 2024: The 10 companies on the rise in Mumbai
LinkedIn News India
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Today we’re introducing the inaugural list of Top Startups in Mumbai, a look at the 10 emerging companies that you should be paying attention to in the city.
These companies aren’t just growing fast, they are gaining attention locally and building innovative solutions shaping the future of their industries. New-age D2C retail brands like Pilgrim , Open Secret , The Whole Truth Foods , and The Sleep Company shine in Mumbai’s list, highlighting the city’s potential as a retail startup hub.
The list is built on exclusive LinkedIn data across four key pillars: employee growth; jobseeker interest; member engagement within the company and its employees; and how well these startups have pulled talent from LinkedIn Top Companies. While these are the same pillars used for our India Top Startups list, the methodology slightly differs, reflecting activity at the local city level vs. the country (you can read more at the bottom of this article). To be eligible, companies must be headquartered in India, be fully independent, privately held, have 30 or more full-time employees in the city and be 7 years old or younger.?
Here are this year’s 10 Top Startups in Mumbai — and join the conversation using #LinkedInTopStartups.
All headcounts are provided by the companies, unless marked with an asterisk. Those headcounts are from LinkedIn data.
1. Zepto
Full-time headcount in Mumbai: 988 | Headquarters: Mumbai | Year founded: 2021 | Most common skills: Cataloging, Food Safety, Inventory Management | Most common job titles: Category Manager, Shop Manager, Management Information System Executive | Largest job functions: Operations, Marketing, Human Resources | What they do:?India’s first unicorn of 2023, Zepto is an e-grocery company present across 10 Indian cities, with plans to enter 10 new cities. In June, the company raised $665 million in funding at a $3.6 billion valuation.
2. Pocket FM
Full-time headcount in Mumbai: 34 | Headquarters: Bengaluru | Year founded: 2018 | Most common skills: Audio Mixing, Audio Post Production, Television | Most common job titles: Creative Director, Writer, Audio Engineer | Largest job functions: Media and Communication, Arts and Design, Marketing | What they do:?Audio series platform Pocket FM has a library of more than 100,000 hours of content across genres like romance, drama, and horror. The startup’s audience footprint spans more than 20 countries.?
3. Pilgrim
Full-time headcount in Mumbai: 200+ | Headquarters: Mumbai | Year founded: 2019 | Most common skills: Social Media, Negotiation, Market Research | Most common job titles: Digital Marketing Specialist, Brand Management Specialist | Largest job functions: Marketing, Business Development, Sales | What they do:?Pilgrim is a direct-to-consumer beauty and personal care brand offering products across makeup, skincare, hair care, and fragrance. The startup also has a presence in the UAE, Singapore, and Malaysia, and is looking to foray into the U.S. and Australia.
4. Dezerv
Full-time headcount in Mumbai: 90* | Headquarters: Mumbai | Year founded: TK | Most common skills: Wealth Management Services, Portfolio Management, Investments | Most common job titles: Investment Manager, Founder, Business Consultant | Largest job functions: Finance, Business Development, Engineering | What they do:?Wealth management firm Dezerv offers portfolio management services and claims to manage more than ?7,000 crore in client assets. The firm has raised $60 million to date, including its July fundraise of ?265 crore led by Premji Invest.
5. Open Secret
Full-time headcount in Mumbai: 78 | Headquarters: Mumbai | Year founded: 2019 | Most common skills: Negotiation, Product Development, Inside Sales | Most common job titles: Supply Chain Associate, Office Associate, Account Manager | Largest job functions: Operations, Sales, Marketing | What they do: Snacks brand Open Secret was founded with the mission to “unjunk India’s snacking options”. The firm offers products across categories like breakfast foods, biscuits, namkeen, juices, and tea and coffee.
6. The Whole Truth Foods
Full-time headcount in Mumbai: 100 | Headquarters: Mumbai | Year founded: 2019 | Most common skills: Negotiation, Market Research, Operations Management | Most common job titles: Account Manager, Business Operations Manager | Largest job functions: Operations, Sales, Business Development | What they do: Health food company The Whole Truth Foods sells “100% clean-label” packaged foods with a goal “to re-build the world's trust in its food”. It offers a range of products including protein powder, chocolates, nut butters, and muesli.
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7. Knight FinTech
Full-time headcount in Mumbai: 300 | Headquarters: Mumbai | Year founded: 2019 | Most common skills: Business Analysis, Financial Analysis, Financial Modeling | Most common job titles: Software Engineer, Business Analyst | Largest job functions: Engineering, Research, Product Management | What they do:?Knight FinTech offers a range of banking solutions to help financial institutions optimise operations and thrive in the digital era. The firm provides tech solutions across co-lending, digital lending, and treasury management.?
8. TrueMeds
Full-time headcount in Mumbai: 744 | Headquarters: Mumbai | Year founded: 2019 | Most common skills: Pharmacy Practice, Android Development, Retail | Most common job titles: Pharmacist, Software Engineer, Customer Service Representative | Largest job functions: Healthcare Services, Engineering, Customer Success and Support | What they do:?E-pharmacy and telehealth platform TrueMeds provides medicine delivery services with a focus on providing affordable substitute medicines.The firm services over 22,000 pin codes and has more than 70 lakh app installs.?
9. The Sleep Company
Full-time headcount in Mumbai: 200+ | Headquarters: Mumbai | Year founded: 2019 | Most common skills: Lead Generation, Social Media Marketing, E-commerce | Most common job titles: Brand Manager, Customer Relationship Management Manager, Retail Operations Manager | Largest job functions: Sales, Marketing, Operations | What they do: Sleep solutions and furniture startup The Sleep Company sells mattresses, recliner beds and sofas, chairs, and bedding products. The firm plans to expand its presence to 50 cities, and its workforce to 1,300-1,400 employees by the end of 2024.
10. Foxtale
Full-time headcount in Mumbai: 137 | Headquarters: Mumbai | Year founded: 2021 | Most common skills: Customer Service Management, Marketing Strategy, Market Research| Most common job titles: Account Manager, Marketing Executive | Largest job functions: Marketing, Sales, Operations | What they do:?
Foxtale is a direct-to-consumer skincare brand with a presence in 2,500 general trade stores across seven cities. The firm recently forayed into the bodycare segment, with plans to introduce another category in the body and personal care vertical.
Check out the Top Startups in Hyderabad, Delhi-NCR, Pune, and Bengaluru.
Methodology
LinkedIn measures startups based on four pillars: employment growth, engagement, job interest and attraction of top talent. Employment growth is measured as percentage headcount increase in the city over methodology time frame, which must be a minimum of 5%. Engagement looks at non-employee views and follows of the company’s LinkedIn page among members in the city, as well as how many non-employees are viewing employees at that startup. Job interest counts the rate at which people are viewing and applying to jobs at the company in the city, including both paid and unpaid postings. Attraction of top talent measures how many employees in the city the startup has recruited away from any global LinkedIn Top Company, as a percentage of the startup’s total workforce. Data is normalised across all eligible startups. The methodology time frame is July 1, 2023 through June 30, 2024.?
To be eligible, companies must be fully independent, privately held, have 30 or more full-time employees in the city, be 7 years old or younger and be headquartered in the country on whose list they appear. We exclude all staffing firms, think tanks, venture capital firms, law firms, management and IT consulting firms, nonprofits and philanthropy, accelerators and government-owned entities. Startups who have laid off 20% or more of their workforce based on corporate announcements or public, reliable sources between July 1, 2023 and the list launch, are not eligible. These decisions are made by the LinkedIn News team based on company statements and/or reputable news outlets.
About company insights
*Company insights were sourced from LinkedIn Talent Insights. Data reflects aggregated public member data from active LinkedIn profiles in the relevant metropolitan area and includes full-time employee profiles associated with the company on LinkedIn. We exclude members who identify as part-time or contractors. Headcounts are provided by the companies directly, unless otherwise noted with an asterisk. Those headcounts are based on LinkedIn data. All insights reflect a 12-month time period looking back from July 2024. Skills data was derived from measuring the most frequent skills among a company’s employees. Most common job titles represent the occupations that are most common within each company. Largest job function measures the function area most prevalent within each company.?
Methodology and insights by: LinkedIn's Economic Graph team
HR Intern | B.M.S - Human Resources student | Aspiring HR Professional | Passionate about Continuous Learning and Exploring New Opportunities
4 周All the start-ups on the list stand out in their own way. As for trends, we're seeing a big focus on hyper local services and sustainability, especially with e-commerce and delivery startups. There's also a shift toward automation and tech to improve customer experience. Plus, fintech and healthtech are on the rise, making finance and healthcare more accessible in the city.
Journalism Student
1 个月I would say all the startups that you have mentioned here stand out. They all have their own Unique Selling Points. I would say the increase in startup culture is mainly due to : 1) Digitalization : Everyone's focus is shifted towards online more. It helps business to spend less on advertising cost, making it more viable for them to focus on their product quality and customer satisfaction. And internet provides you more reach at a low cost. 2) Influencer marketing : Due to internet there is significant growth in Influencer marketing as it costs less and add up more reach as well, 3) Avoid toxic work culture : Nowadays, young generation are aware about the office politics and toxic work culture. So many of them don't want to indulge in it. 4) Freedom : Starting your own business can be a hectic job in the initial period, but it provides a sense of freedom as it is well settled and you are your own boss. It also helps individuals follow their own passion. People want to build a financially independent life on their own terms and there are many untapped ideas and all these startups are a great way to execute them. I would say this is an absolute great use of all the resources one has. Clay goodies and DIY will emerge I think.
Founder @ UrbaneTek Group of Companies | Unlocking business potential and igniting success
1 个月Standout startups include the following from the list for me. 1. Zepto (quick-commerce): Revolutionizing grocery delivery. 2. Dezerv (wealth management): Simplifying investment processes. 3. Open Secret (healthy snacks): Catering to rising demand for wellness products. I feel the Key trends shaping Mumbai's startup ecosystem would be as below, 1. Digital health and wellness: Increased focus on mental/physical well-being. 2. Fintech innovation: Streamlining financial services. 3. Sustainable products/consumption: Growing demand for eco-friendly solutions. 4. E-commerce growth: Direct-to-consumer brands thriving. 5. Edtech and skills development: Upskilling/reskilling programs. FurtherMore to summerise, Mumbai's startup landscape is characterized by: 1. Diversification: Entrepreneurs tackling various industries. 2. Tech adoption: AI, blockchain, IoT integration. 3. Collaborative environment: Startups, government, corporations partnering. 4. Expanding coworking spaces. Mumbai's startup ecosystem is poised for continued growth, driven by innovation, strategic investments and enabling policies.
Digital Marketer & Data Analyst
1 个月Interesting and informative !
Student at Army Public School (APS)
1 个月Love this