Start-up research and data Intelligence platform Tracxn, in a fresh round of angel investment, has received an undisclosed amount from Nandan Nilekani, Mohandas Pai, Neeraj Arora and Anand Rajaraman.
The round also included investment from Japanese e-commerce firm founder Teru Sato, Freshdesk founder Girish Mathrubootham and Capillary founder Aneesh Reddy. According to Tracxn, the new set of investors will help it sell to more global corporations as compared primarily to investors, as it becomes an enterprise software company.
Tracxn, which aspires to be the “Gartner for startups information”, was founded in 2013 by Sequoia and Accel alumni Neha Singh and Abhishek Goyal. It tracks over 100 sectors including enterprise infrastructure, enterprise applications, technology, consumer, mobile, digital marketing, health, education.
The platform covers these stats over a span of time and investors can choose their area of investment based upon the Tracxn reports and predictions. Tracxn tracks all digital footprints about startups and collates them to conceive meaningful information which could prove useful to investors, who seek the right area to invest in.
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.
While there are other firms working in the same domain, Tracxn differentiates itself by introducing investors to the market first, and then relevant startups.
At Tracxn, investors can browse the entire startup data through shortlisted categories. The categories cover every possible domain which has a startup functioning within it. Be it robotics, IoT, Artificial Intelligence, Digital Media, E-commerce or any other, Tracxn’s analysts continue to add comprehensively researched startup data under those numerous domains. It also offers geo-centric startup categorisation, though it is currently limited to only India and China.
The company’s data analysis technology first identifies promising companies and founders, before its analysts take a closer look at fundamentals and trends.
Tracxn had earlier raised an undisclosed amount of funding from Ratan Tata. Prior to that, it had raised $3.5 million in Series A round of funding from SAIF Partners. It had also received close to $10 million in a round led by Flipkart’s Sachin and Binny Bansal and Delhivery co-founder Sahil Barua. The $10 Million were primarily raised for Tracxn Labs — its incubator which has been active investments in startups in differing domains.
Tracxn’s clients include the likes of Andreessen Horowitz, Sequoia, SoftBank, Google Capital, VMWare, GE and LG. As per the company, its client base has also seen a 400% increase to over 300 customers across 20 countries.
The company has a team of more than 125 analysts, which it increased from 25 in just 12 months and is further planning to increase that number to 150. It is also planning to target a wider range of clients, including consulting firms and universities.
