The days of straightforward cash are over as entrepreneurs face a funding winter amid a slowing world economic system — and start-ups in India usually are not exempt. 

According to an area report, enterprise funding came in at $2.19 billion from January to March, dropping from the $11.34 billion invested in the identical quarter final 12 months.

However, there are sectors which have “demonstrated resilience amid challenging times,” stated Pooja Chhabria, LinkedIn APAC’s head of editorial. 

“Fintech stays a bright spot for investors regardless of the downturn, particularly as we see funding on the restoration path and world tech giants eyeing fintech in India,” she added. 

“The rise of edtech also underscores the continued demand for upskilling among professionals and students, especially with rapid changes due to technologies such as AI.”

This is mirrored within the “LinkedIn Top Start-ups 2023″ list for India — which is dominated by fintech-related firms but also includes two new edtech entrants. 

There are 14 new entrants this year, which is “a mirrored image of a booming entrepreneurial ecosystem and a spirit for innovation,” Chhabria added. 

In compiling the list, LinkedIn drew on in-house data, measuring start-ups based on four aspects: employment growth, jobseeker interest, engagement, and ability to attract talent from LinkedIn’s top companies. 

To be eligible, companies had to be headquartered in India and have 50 or more employees.  LinkedIn said it also lowered its age criteria from seven years or younger, to five years and below to “characteristic extra firms of their earlier, enterprise levels of development.” 

Here’s the full list of India’s top start-ups for 2022, according to LinkedIn:

20. Fasal — IT companies and consulting

19. DotPe — Software growth 

18. TravClan — Software growth 

17. AccioJob — E-learning 

16. Housr — Hospitality

15. Exponent Energy — Motor car manufacturing 

14. StockGro — Financial companies 

13. Teachnook — E-learning

12. Shyft — Wellness and health

11. Jar — Financial companies 

10. GrowthSchool — E-learning

9. Supersourcing — Software growth

8. Sprinto — Software growth

7. Fi — Financial companies 

6. GoKwik — Software growth

Industry: Defense and space manufacturing

Headquarters: Hyderabad

Full-time headcount: 260

Most common skills: Machining, aerospace engineering, manufacturing operations

Skyroot Aerospace was founded four years ago by engineers and former scientists from the Indian Space Research Organization. In 2022, it became the first private Indian company to launch a rocket into space. Skyroot Aerospace told Reuters that it’s anticipating a minimum of two launches in 2024, following the success of India’s Chandrayaan-3 mission.

Industry: Software development

Headquarters: Bengaluru

Full-time headcount: 489

Most common skills: Writing, video, advertising 

Audio series platform Pocket FM offers audio entertainment across multiple genres and Indian languages in its library with more than 100,000 hours of content. According to the company, it serves around 80 million listeners globally.

Industry: Financial services

Headquarters: Bengaluru

Full-time headcount: 252

Most common skills: Communication, business management, advertising 

Founded in 2018, this fintech start-up helps users compare insurance plans, understand policies and buy insurance through its online platform. According to LinkedIn, Ditto Insurance is looking to hire “tons of of freshers” in the coming year.

Industry: Software development

Headquarters: Gurugram

Full-time headcount: 620 

Most frequent abilities: Development instruments, enterprise administration, information science

BluSmart provides electrical ride-hailing companies in Delhi NCR and Bengaluru with its 4,500-strong electrical automotive fleet. Founded in 2019, the start-up stated it will likely be utilizing its latest cash injection of $42 million to develop this fleet to 10,000 vehicles by the top of this 12 months and put money into extra charging stations across India.

Industry: Software development 

Headquarters: Mumbai

Full-time headcount: 1,400 

Most frequent abilities: Business administration, information science, growth instruments