Tracxn Tech and its operation:
SEBI approved Tracxn tech IPO in February 2022 and may come up later this year. The company is incorporated as “Tracxn Technologies Private Limited’ dated August 11, 2012. The name of the company was changed to ‘Tracxn Technologies Limited’ with a fresh certificate of incorporation dated July 28, 2021.
Tracxn tech is one of the leading global market intelligence providers for private company data. The company runs over an asset-light model and operates a Software as a Service (“SaaS”)-based platform. Tracxn offers private company data for deal sourcing, identifying M&A targets, deal diligence, analysis, and tracking emerging themes across industries and markets, etc. through our subscription-based platform.
Tracxn platform has 2,358 users across 855 customer accounts in over 50 countries, as of March 31, 2021. The customers include Fortune 500 companies and/or their affiliates such as Unilever Industries Private Limited. The platform is powered by a unique combination of human analyst and technology. The platform uses technology to scan through multiple data points to build one of the most relevant data intelligence platforms. Looping human intelligence further helps in improving quality of the output.
Tracxn Technology Management Team:
Tracxn is run by first-generation entrepreneurs. The company is promoted by Abhishek Goyal and Neha Singh. Both of them have significant experience in the venture capital and technology industry.
Neha Singh is the Chairperson and Managing Director of the company. She holds a bachelor’s and master’s degree in technology, with specializations in computer science and engineering, from the Indian Institute of Technology, Bombay. She also holds a master’s degree in business administration from Leland Stanford Junior University. Before this assignment, she has served as an associate with The Boston Consulting Group (India) Private Limited. She also worked as an investment analyst with Sequoia Capital India Advisors Private Ltd.
Abhishek Goyal is the Vice Chairman and Executive Director on the board of the company. He holds a bachelor’s degree in technology, specializing in computer science and engineering, from the Indian Institute of Technology, Kanpur. Before this, he founded UrbanTouch.com in 2011. Abhishek also worked in various roles in other companies before founding this company. He worked with Amazon as a software developer, 3i-infotech as head of technology, and Accel Partner as an Associate for over 5 years. In the current position, Abhishek Goyal is looking after the operation in Tracxn, Tracxn Syndicate, and Tracxn labs.
Brij Bhushan is an Independent Director on the Board of our Company. He holds a bachelor’s degree in technology, specializing in computer engineering, from Maharshi Dayanand University, Rohtak. Brij Bhushan also holds a post-graduate diploma in management from the Indian Institute of Management, Bengaluru. He served as a vice president of the corporate department of Nexus India Capital Advisors Private Limited before joining Tracxn.
Tracxn raised funding:
Tracxn have been received investments from angel investors such as Ratan Tata, the NRJN Family Trust, Neeraj Arora, Sachin Bansal, Binny Bansal, Amit Ranjan, Girish Mathrubootham, Anand Rajaraman, Amit Singhal, and Ashish Gupta. The company has also received investments from Elevation Capital, Accel Partners, Sequoia Capital, Prime Venture Partners, and KB Investments. As a shareholding pattern, Abhishek Goyal and Neha Singh each hold 43.52% of the total share of the company (A total of 97.04% is with promoters). In total, Tracxn has raised a total of $4.5M in funding over 6 rounds by 2019.
Tracxn recorded a total income of INR 55.7 crore in the year 2021 ended on March 31. The company’s total income was INR 6.3 crore year ended 31st march 2020. Tracxn tech has been incurring losses for the last two years as its total expenses have increased from INR 60 crores in 2020 to INR 61 crores in 2021. Net loss for the period stood at Rs 5.3 crore versus Rs 54 crore in the year 2020.
Tracxn Technology is coming up with IPO:
Tracxn Tech IPO is coming up with an offer for sale of 38,672,208 Equity shares. The face value of each equity share is ₹ 1. The net proceeds of this offer for sales will go to the shareholders. The company will not receive any proceeds from this offer. However, the company achieves the benefits of listing equity shares on the Stock Exchanges. This listing will further enhance the brand name of the company. The details of the Tracxn Tech IPO as below.
|Tracxn Technology IPO Details|
|Subscription Dates||Coming Soon|
|Pricing band||Coming Soon|
|Offer for Sale||38,672,208 Equity Shares|
|Equity Shares outstanding as at the date of this Draft Red Herring Prospectus||98,128,493 Equity Shares|
|Equity Shares outstanding prior to the Offer||100,310,185 Equity Shares|
|Equity Shares outstanding after the Offer||100,310,185 Equity Shares|
|Minimum bid (lot size)|
|Face Value||INR 1 per share|
|Listing on||BSE & NSE|