Ratan Tata invests in startup research platform Tracxn
Tata Sons chairman emeritus Ratan Tata has invested an undisclosed amount in startup data analytics firm Tracxn.
This is the second investment disclosed in 2016 for Tata, who hung up his boots as the Tata Group's chief three years ago. Tata Sons is the group's holding company. Earlier this week, Gurgaon-based Petsglam Services Pvt Ltd, which operates online pet store DogSpot.in, raised an undisclosed amount from Tata.
Tata was the most active angel investor in India last year. He picked up stakes in 18 startups in 2015 including Crayon Data, UrbanClap and KAARYAH. He has also invested in Snapdeal, Ola Cabs, and Paytm in the past.
Tracxn was founded in 2013 by former venture capital investors Neha Singh and Abhishek Goyal. It offers startup-related data analytics and sector-focused analyses to venture capital and private equity firms, among others.
The firm had earlier raised $3.5 million from SAIF Partners in April 2015 and later secured $10 million from Flipkart founders Sachin Bansal and Binny Bansal to fund its startup incubator, TracxnLabs.
Tracxn's offerings compete with some products of The VCCircle Network, whose businesses include subscription data products and a subscription-led news website.