6 January, 2016, Bangalore: Ratan Tata, continued his interest on supporting and investing in startups as the business tycoon invested an undisclosed amount in Tracxn Technology Pvt. Ltd. The company ventured into the market in 2013 and since its inception, it has grown its business to a new horizon. Founded by Abhishek Goyal and Neha Singh, it works on a same platform like Bloomberg + Gartner for startups. It guides private companies and VCs to add value to their investment in startup companies. The company provides a data base of over two million companies to the investors. Till now, it has managed to gather information on startup across 100 sectors to over 6000 clients across India, USA, Middle East, South-Asia and Europe.
Speaking on the development, Abhishek Goyal said, “We learnt the importance of trust in business from Ratan Tata’s stories. Now we get a chance to learn from him directly.” As per the reports of the company, its subscription ARR (Annualized Recurring Revenue) has grown immensely to 10x in 2015 as compared to 2014. Traxcn has strengthened its team by 250 members as compared to 25 members in 2014.
It has been the one of the favourite companies for the investors as earlier it had received funding from Sachin Bansal and Binny Bansal, Founders, Flipkart along with few more angel investors. Company is also planning to launch its incubator called TracxnLabs.