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MUMBAI: Tracxn Technologies Ltd, a Bengaluru-based analytics firm, has filed draft papers with Securities Exchange Board of India to raise funds via share sale.

The initial public offering comprises a pure offer for sale of up to 38.67 million shares by its existing shareholders and promoters. The OFS consist of up to 7.66 million shares each by Neha Singh and Abhishek Goyal, 1.26 million shares each by Binny Bansal and Sachin Bansal, 10.98 million shares by Elevation Capital, 4.02 million shares by Accel India IV Mauritius, and 2.18 million shares by SCI Investments V.

Apart from these, Sahil Barua, Deepak Singh, Trustees, Kolluri Living Trust, Milliways Fund LLC, Rathnagirish Mathrubootham, Apoletto Asia Ltd, Trustees, NRJN Family Trust, Manoj Kumar Gandhi, WGG International Ltd also plans to sell via OFS.

Sachin Bansal and Binny Bansal hold 1.26% stake each, while Elevation Capital has 21.89% stake in the firm.

IIFL Securities is the sole book running manager for this issue.

Founded by Abhishek Goyal and Neha Singh, who hold 25.46% stake each in the firm, is one of the largest coverage of private companies in emerging technology sectors including IoT, artificial intelligence, virtual reality, robotics, blockchain and electric vehicles.

The firm offers private company data for deal sourcing, identifying M&A targets, deal diligence, analysis and tracking emerging themes across industries and markets, among other uses, through the subscription-based platform, Tracxn.

As of 31 May 2021, the firm has an asset-light business model and operate a Software as a Service (SaaS)-based platform, Tracxn, that scanned over 550 million web domains, and profiled over 1.4 million entities across 1,805 feeds categorized across industries, sectors, sub-sectors, geographies, affiliations and networks globally.

As of Mar 2021, its platform had 2,358 users across 855 customer accounts in over 50 countries and its customers include several Fortune 500 companies and/or their affiliates such as Unilever Industries Pvt Ltd. 

The firm made 13,448 updates to its platform and added data of 407,613 entities, 5,526 reports, 628,724 news items and 76,466 funding rounds and acquisition transactions.

For the fiscal year 2021, its total income stood at 55.74 crore against 63.13 crore a year ago. Net loss for the period stood at 5.35 crore versus 54.03 crore last year.

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