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Mumbai-based trading platform Trackk has raised INR 30 crore (around USD 3.16 million) in an extended seed funding round led by Lightspeed India, with participation from Info Edge Ventures. The funding comes about nine months after the company secured USD 1 million in an earlier seed round from investors including Mga Ventures, GSF Ventures and GNP Group.
According to regulatory filings, Trackk’s board approved the issuance of 1,23,630 compulsory convertible preference shares at a price of INR 2,429 each to raise the latest funds. Lightspeed India invested INR 23.66 crore in the round, while Info Edge Ventures contributed INR 6.37 crore.
The startup plans to use the fresh capital for capital expenditure, marketing, working capital needs and general corporate purposes, as per the filings. Separately, reports indicate that Trackk is in discussions to raise around USD 8 million in a new funding round led by Z47, formerly known as Matrix Partners India.
Founded in 2021 by Vedant Gupte, Aryan Jain and Siddharth Thakkar, Trackk is developing a stock trading platform aimed at younger investors. It offers features such as single-screen trading, personalised insights and behavioural analytics to help users make investment decisions.
The startup had also received approval from the Securities and Exchange Board of India last year to offer brokerage services on both the National Stock Exchange and the Bombay Stock Exchange.
Following the latest funding, Lightspeed India now holds about 20% stake in Trackk, while Info Edge Ventures owns 5.38%. The founders’ combined stake has reduced to 45.17% after the round.
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