Ratan Tata’s 21st investment in line, goes to Tracxn.
Tracxn Technologies Pvt. Ltd. has raised an undisclosed amount in an funding round led by Ratan Tata.
Bengaluru | RNW | Jan 6, 2016 01:55 AM IST.
Tracxn was founded in 2013 by Accel alumni Abhishek Goyal and Neha Singh, who was an analyst at Sequoia. Working like Bloomberg + Gartner for startups, Tracxn helps VCs and private companies, looking for good startups to invest in, by providing a database covering over 20 Mn companies. It provides information on startups across 100 sectors to over 6,000 clients across India, the US, the Middle East, South-East Asia and Europe.
It currently analyses startups in India, the US and South-East Asia. Further, it plans to expand its research to over 25 countries across the Middle East, Europe and Canada.
“We learnt the importance of Trust in business from his stories. Now we get a chance to learn from him directly,” said Abhishek Goyal.
According to the company, in 2015, its subscription ARR (annualized recurring revenue) grew by almost 10x as compared to 2014 and its team has grown from over 25 team members in 2014 to over 250 in 2015.
Earlier in June 2015, the company had raised a funding round from Flipkart founders Sachin Bansal and Binny Bansal alongwith a few other angels also participating for launching its incubator called TracxnLabs. Prior to that, in April, it had raised $3.5 Mn in funding round led by Accel Partners.
The startup also has a fundraising platform called Tracxn Syndicate which help budding entrepreneurs accelerate. A few startups that have raised raised funding from Tracxn Syndicate include Tavaga, Klozee, Parcelled and Stayglad.
This is Tata’s 21st investment, recently, Tata has also invested in Gurgaon-based online platform for pet products i.e DogSpot.
Website URL: www.tracxn.com