The camaraderie between the investors and the startups continue to show. According to the latest reports, Nandan Nilekani & others have provided an investment boost to Tracxn.
The startup space in India is already cramping up a lot. And, with more and more startups, emerging on a regular basis, only innovation can attract the investment. Back in 2007, when Zomato started, no one would have predicted its quick growth. However, with so many VCs and investors coming forward to curate and invest in startups, the road ahead looks promising for new Indian startups. The latest recipient of the funds is Tracxn. For the ones unaware, Tracxn is a startup research and data intelligence platform. The startup has pulled in an undisclosed amount through Nandan Nilekani, Mohandas Pai, Neeraj Arora and Anand Rajaraman. The fresh round of angel investment also included the likes of Teru Sato, Girish Mathrubootham and Aneesh Reddy. According to a statement released by Tracxn, the new set of investors will help it sell to more global corporations. Since its inception in 2013, Tracxn has become a household name in the startup ecosystem. Along with presenting the options to track more than 100 sectors, it also provides valuable data intelligence to the companies. With the help of statistics, the company helps the investors to choose their area of investment. These are mainly done with the help of Tracxn reports and predictions. The company had recently hired several top notch analysts to make their whole process even more bespoke. The platform’s analysts currently derive insights through large scale data aggregation in seven practice areas of Enterprise Infrastructure, Enterprise Applications, Technology, Mobile, Consumer, FinTech, and Emerging Markets. Venture Funds and Corporate Development teams subscribe to Tracxn coverage based on the areas they invest in. With clients like Sequoia, SoftBank, Google Capital, GE and LG on-board, the company has already made its point clear of entering the big league. The startup already caters to more than 300 customers across 20 countries. A couple of months back, the company had claimed that their client base has grown over 400 percent.
Tracxn has already been cynosure of all investor’s eyes. Prior to this new round of investment, Tracxn had also raised an undisclosed amount from Ratan Tata. The Series A round of funding for Tracxn attracted $3.5 million from SAIF Partners. Close on the heels of the Series A funding, Tracxn had also raised approximately $10 million in a round led by Flipkart’s Sachin and Binny Bansal along with Dehlivery’s Sahil Barua. The company also runs an angel invest fund, ‘Tracxn Labs’ & an angel investment group ‘Tracxn Syndicate’. The company said that the fresh new round of funding would be used to increase their team of analysts & target the wider spectrum of client globally. The company is also looking to target consulting firms and universities over the next few months.