Y Combinator Top Companies List 2022: Indian Startups Conquer The List, Only Behind USA
Renowned startup accelerator Y Combinator has released its ‘Top Companies’ list for 2022.
What Is Y Combinator?
It is known for having invested in some of the biggest businesses in the world such as Dropbox, Coinbase among 3000 others.
Over 260 of its portfolio companies are valued at over $150 million and more than 60 on the list are unicorns.
Razorpay, a payments and banking platform, has been ranked 10th in the Breakthrough Companies list for 2022.
This makes it the first Indian company to be featured in the Breakthrough list which features a total of 37 high growth companies across the world that have received between $15-300 million from YC.
The unicorn which was valued at $7.5 billion in December last year also became the highest ranked Indian startup in the list at 14, up from 33 last year.
It is among high profile peers on the list such as Airbnb, Instacart and Reddit.
Other Indian Names On The List
The list contains both public and private companies which are valued at $150 million or more, and are sorted by their valuation as of February 2022.
Since the last issue, 99 new companies have joined the list.
This time, 10 Indian companies featured including Meesho, Clear, Groww, and Khatabook.
Companies like Instawork, Zepto, FamPay were new Indian additions to the overall list this year.
India Second Most Represented
Y Combinator said that excluding the US, India is the most represented in terms of number of startups than any other geography.
The number of Indian startups are second to those from the US.
Inspiring Others To Start Businesses
Compared to its first list in 2018, the international growth is “significant but unsurprising“.
It observed that when it funds successful companies like Razorpay, Groww, and Zepto, there’s a “flywheel effect” which inspires others to start their own businesses.
Startups from six new countries- including Algeria, Senegal, Brazil, Chile and Singapore- made the list this year.
Of the new companies 28% were outside the US, signalling Y Combinator’s continued efforts and investments in startups from international geographies.
Increase In Applications From India
Y Combinator registered a significant increase in applications from India over the past two years.
Between 2020 and 2022, there has been a 45% increase in applications from India.