In June last year, Tracxn had launched a new platform to connect startups with potential investors
After making a series of investments, mostly in consumer Internet companies in India, industrialist-turned-serial investor Ratan Tata has injected money into startup discovery and deal-making platform Tracxn.
The funding comes almost nine months after the Bangalore-based firm raised US$3.5 million from SAIF Partners.
Tracxn was started in 2013 by former investors Neha Singh (ex-Sequoia Capital) and Abhishek Goyal (ex-Accel Partners). It is a startup research platform that leverages intelligent data analytics to help VC funds, private equity firms, corporate development and strategy teams globally to track the dynamic startup market and identify interesting investable companies and upcoming sectors.
The company tracks over 100 sectors, including enterprise infrastructure, enterprise applications, technology, consumer, mobile, digital marketing, health and education. Its clients include Andreessen Horowitz, Sequoia, SoftBank, Google Capital, VMWare, GE and LG.
In June last year, Tracxn had launched a new platform called Tracxn Syndicate to connect startups with potential investors.
Flipkart Founders Sachin Bansal and Binny Bansal are also investors in Tracxn.
“Ratan Tata is a trusted household name and his way of building things has played a critical role in how our thoughts shaped up in early days of our lives. To get an opportunity to build our startup under his direct mentorship is probably the best thing we could ask for. Today we work with over 300 customers across 20 countries. As we rapidly expand across geographies, his unconventional ways of building large companies with high diversity will be very useful,” said Goyal.
Tata, Chairman Emeritus of Tata Sons, has backed more than 20 home-grown startups over the past one year. He also sits on the board of several companies and is Advisor at Singapore-based Jungle Ventures and Indian VC firm IDG Ventures.
His past investment include Ola, Snapdeal, Paytm, Zivame, Urban Ladder, CarDekho, Bluestone, Crayon Data and UrbanClap. He is also an investor in Chinese smartphone giant Xiaomi.
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