Tracxn files DRHP for 3.86 billion equity shares

Tracxn Startup’s information:

Former venture capitalists Singh and Goyal founded Tracxn in 2013. With the assistance of other companies such as Elevation Capital, Accel India, 3One4 Capital, Sequoia India, and Prime Venture Partners. Several serial investors have invested in the eight-year-old platform, including former Infosys CFO Mohandas Pai, Delhivery’s Sahil Barua, and Flipkart’s Sachin Bansal.

Past Year Updates:

In April 2015, Traxn announced that it had received $3.5 million in series A funding from SAIF Ventures. Tracxn planned to use the funds to hire more analysts, mostly in Southern Asia and Europe.

The number of investors in Tracxn’s Series A funding increased to $10 million on June 19, 2015, with the participation of Sachin Bansai and Binny Bansal, among others. It planned to use the funds to launch a startup company incubator program that will provide funding ranging from $20,000 to $50,000 to create minimum viable products.

In February 2016, Traxn closed its first round of venture capital funding with Neeraj Arora, Nandan Nilekani, and Aarin Capital, who provided an undisclosed amount of funding.

An undisclosed amount of funding raised by Tracxn on April 24, 2018, from undisclosed investors. Upon receiving this funding, Traxn was valued at $70 million pre-money. KG Global Platform Fund has provided Traxn with $3 million in series B II capital. As a result of receiving their series B II funding, Tracxn had a post-money valuation of $78.75 million

Updates:

Tracxn has submitted its draft red herring prospectus (DRHP) to SEBI. Its offer merely consists of an offer of sale of up to 3.86 Cr equity shares. According to the DRHP, Tracxn cofounders Abhishek Goyal and Neha Singh will both sell around 76.6 lakh equity shares while Flipkart founders Binny and Sachin Bansal will sell up to 12.6 lakh equity shares each. Elevation Capital will offload up to 1 Crore equity share. Accel India is expected to sell up to 40 lakh shares, while SCI Investment will sell up to 21 lakh shares. As compared to FY20, analytics platform revenue for FY21 rose 17% to INR 43.7 Cr. Tracxn recorded a total

 expenditure of INR 61 Cr in FY 21, a slight increase from INR 60.3 Cr in FY 20. The data intelligence platform saw a reduction in losses from INR 54 Cr to INR 5.3 Cr in FY21.