Gartner for startup information, Tracxn has raised a new round of funding led by Flipkart founders Sachin Bansal and Binny Bansal alongwith a few other angels participating. Tracxn has raised over $10 Mn in this round for launching its incubator called TracxnLabs.
TracxnLabs plans to invest a minimum viable capital between $20-50K in startups. It has already started working with over 10 startups working in the sectors such as online rentals, lending, foodtech and will be announcing deals in the coming months.
"With the current pool of capital, we can easily work with 50 startups a year. As our capital pool increases, we can work with a much larger set of start-ups," said Tracxn co-founder Neha Singh.
With TracxnLabs, the company plans to use its large database and research to help entrepreneurs with startup ideas and funding trends. Flipkart co-founders and other individual investors who have invested in their personal capacity in Tracxnlabs will not be involved in mentoring and guiding these startups.
Earlier this month, Tracxn has also launched a fundraising platform called Tracxn Syndicate to help budding entrepreneurs accelerate and build great companies.
Tracxn was founded in 2013 by Accel alumni Abhishek Goyal and Neha Singh, who was an analyst at Sequoia. The startup had initially raised funding from Flipkart founders and few other angel investors. Earlier this year in April, it had raised $3.5 Mn in funding round led by Accel Partners.