This estimate is based on the recruitments made by these companies till the end of August and their . based on Recruitment plans for the rest of the year.
This group of 243 companies added about 55,000 new white collars Jobs during the first eight months of 2021, compared to a net addition of 30,000 for the whole of 2020. For the 20-month period starting January 2020, these companies collectively registered an increase of over 80% in their headcount.
These companies are estimated to generate 250,000-300,000 indirect jobs (blue and gray collar) this year, with the advent of the festive season and business activities fueling continued capital inflows.
“The job creation potential of high action industry sectors has put the collective headcount of these growth-stage companies on a trajectory to cross the 200,000-mark by the end of the year,” said Anil Ethanur, Co-Founder, Xpheno. Together these companies employed about 170,000 people at the end of August.
NS
Startup investment landscape has been at a high In 2021, with the revealed value of Series A to Series E deals and late-stage funding doubling so far this year compared to the whole of 2020. The year-over-year deal count in this growth series is 250. With a net worth of $13.3 billion.
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Of the 243 companies that received growth stage funding in 2020, 85 have received more investment rounds in 2021 and are investing capital for further expansion.
“Talent is moving towards the digital economy. Not only technical talent, but people from nearby industries are also attracted towards these growth stage startups,” said Pranav Pai, Managing Partner, 3one4 Capital. “Our portfolio companies have hired functions such as marketing, HR, software development, finance and operations.”
The top five industries by net job creation are edtech, fintech, ecommerce, logistics, and hardware and platform-based technology.
Edtech sectors such as Byju’s, Unacademy, Vedantu and Topper have seen the highest job creation in 2021 with around 15,000 net additions so far.
Vedantu plans to recruit around 1,000 individuals from across the country and from top engineering colleges, its HR chief Babu Vittal said. “We are looking for candidates to build and strengthen our platform teams and go-to market functions such as analytics, sales, strategy, finance, marketing, engineering, product and design.”
HR head Manmeet Sandhu said PhonePe plans to increase the workforce from 2,800 to 2,800 by the end of the year. “With the market opening up and the rapid expansion of our business, we need to continue with various operations.”
Some, like the newly created Unicorn, are focusing on hiring some Jetworks manufacturing domain experts as well as growing their leadership pipeline. Amrit Acharya, Co-Founder, Jetwork said, “We have added 210 members in the last eight months. Our target is to add 100 more in the next two-three months.
mobile ecommerce company bikay
Recently raised $10.8 million in Series A funding, will expand its team tenfold by the end of the financial year, said cofounder Sonakshi Nathani.
Ravi Maithani, head of people and culture at Tide (India), said, “Our funding announcement not only helped us reach top talent, but also created a huge pool.” Series C Funding