Start-up research and data Intelligence platform Tracxn, in a fresh round of investment, has received an undisclosed amount of from Ratan Tata, Chairman Emeritus of Tata Sons. He is also an adviser for venture capital firms such as Kalaari Capital, IDG Ventures India and Jungle Ventures.
This investment from Ratan Tata marks his 21st investment. Post his retirement from Tata Group in 2012, he has been actively funding into established startups within the country, in his personal capacity.
Tracxn, which aspires to be the “Gartner for startups information”, was founded in 2013 by Sequoia and Accel alumni Neha Singh and Abhishek Goyal, tracks over 100 sectors including enterprise infrastructure, enterprise applications, technology, consumer, mobile, digital marketing, health, education.
It’s data analysis technology first identifies promising companies and founders, before its analysts take a closer look at fundamentals and trends.
Earlier, the startup had raised $3.3 million in Series A round of funding from SAIF Partners. After a couple of months, it again secured $10 million in the same round from Sachin and Binny Bansal, co-founders of Flipkart.
Tracxn is the research partner for Venture Capitalists and Corporate Development offices powered by the largest Startup Data platform tracking over 10 million companies globally.
As per the company, its client base has also seen a 400% increase to over 300 customers across 20 countries. Tracxn’s clients include Andreessen Horowitz, Sequoia, SoftBank, Google Capital, VMWare, GE and LG.
The company has a team of more than 125 analysts, which it increased from 25 in just 12 months and plans to increase that number to 150. It is also planning to target a wider range of clients, including consulting firms and universities.
Tracxn differentiates itself from other data analytic tools by focusing on helping clients understand the market first before they look at individual companies.
Abhishek Goyal, co-founder of the company, said,
Ratan Tata is a trusted household name & his way of building things has played a critical role in how our thoughts shaped up in early days of our lives. As we rapidly expand across geographies, his unconventional ways of building large companies with high diversity will be very useful.