BackTracxn launches platform to connect start-ups with potential investors
Tracxn Syndicate will allow select start-ups to make a pitch to a set of early stage investors who will get a three-day window to interact with founders digitally and offline
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Bengaluru: Tracxn, a data analytics firm that provides financial information on start-ups, has launched a new platform called Tracxn Syndicate to connect start-ups with potential investors.
Investor interest in the Indian start-up ecosystem is growing and numerous online platforms such as Applyifi and LetsVenture are already helping investors look for the next big start-up through their online engagement services.
Tracxn Syndicate is based on the idea that returns on start-up investments are disproportionately biased towards winners, said Tracxn chief executive Neha Singh. “On the startup side, founders prefer angels occupying the cap tables to bring in more than just capital, like bringing in relevant industry or operational experience. Through this platform, we aim to bring these value-added angels and show them curated set of startups from their specific areas of expertise," she said.
Tracxn was founded by Abhishek Goyal and Neha Singh, both ex-investors, when they found it difficult to find basic information on start-ups to invest. The company aims to tap into its startup data analytics and analyst-backed research engine built for traditional institutional investors and provide a curated deals platform for angels. “We have a team of 40 analysts now and are expected to grow to 150 people. Given our bandwidth on research, we plan to showcase one startup a day by end of next year and still have curation ratio of 1:50," she said.
The platform will allow select start-ups to make a pitch to a set of early stage investors who will get a three-day window to interact with founders digitally and offline. The platform aims to help investors and start-ups reduce the time required to close an early stage round to less than a week, Singh said.
Tracxn has a database of more than 10,000 technology startups and is adding 50 new startups everyday. It raised $3.5 million in Series-A funding from SAIF Partners in April.
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