LetsVenture's new Software Platfrom Trics raises $3 million led by Accel & Others
Startup investment marketplace, LetsVenture announced the launch of trica, a software products platform for equity administration and transactions that raised $3 million in a seed round.
Accel, LC Nueva AIF, and Secocha Ventures were among the investors. The LC Nueva AIF is an alternative investment fund that is seeking clearance from the SEBI.
Other angel investors who participated in the round included Anupam Mittal (Shaadi.com), Kunal Shah (CRED), Ashneer Grover (BharatPe), and the family offices of Apurva Parekh of Pidilite, Rahul Talwar of the DLF Group, and others.
The funding will be used to develop the technical infrastructure stack, scale the product, and expand the team at trica.
LetsVenture co-founders Shanti Mohan and Sanjay Jha are the startup's Head of Strategy and Head of Product, respectively. Nimesh Kampani is the co-founder and CEO of trica.
Shanti Mohan, Co-founder, and CEO, LetsVenture, said, “trica has been conceptualised out of LetsVenture's vision to build a transparent platform that democratizes private market investing. With trica, we now aim to be the market leader in equity management, primary fundraising, and liquidity solutions.”
On the launch of trica, CEO Nimesh Kampani said, “In a short span of 15 months, we have 350 startups from India, Singapore and the US using our equity management SaaS product.”
The cap table, ESOP administration, and facilitating investments into growth stage and pre-IPO companies will be the emphasis of trica products, which will operate on a SaaS model.
On the investment into trica, Subrata Mitra, Partner, Accel India, said, “Startups are becoming mainstream at an ever-faster pace, and just like the DEMAT moment for public markets, we believe we're at the right inflection point where private company ownership needs to be managed and scaled digitally.
That's exactly the mission that LetsVenture and trica have at their core.”
India's domestic capital pool is growing, according to LetsVenture. According to reports, India would receive over $65 billion in investment by 2025, with $30 billion coming from India's domestic capital.
Accel, LC Nueva AIF, and Secocha Ventures were among the investors. The LC Nueva AIF is an alternative investment fund that is seeking clearance from the SEBI.
Other angel investors who participated in the round included Anupam Mittal (Shaadi.com), Kunal Shah (CRED), Ashneer Grover (BharatPe), and the family offices of Apurva Parekh of Pidilite, Rahul Talwar of the DLF Group, and others.
The funding will be used to develop the technical infrastructure stack, scale the product, and expand the team at trica.
LetsVenture co-founders Shanti Mohan and Sanjay Jha are the startup's Head of Strategy and Head of Product, respectively. Nimesh Kampani is the co-founder and CEO of trica.
Shanti Mohan, Co-founder, and CEO, LetsVenture, said, “trica has been conceptualised out of LetsVenture's vision to build a transparent platform that democratizes private market investing. With trica, we now aim to be the market leader in equity management, primary fundraising, and liquidity solutions.”
On the launch of trica, CEO Nimesh Kampani said, “In a short span of 15 months, we have 350 startups from India, Singapore and the US using our equity management SaaS product.”
The cap table, ESOP administration, and facilitating investments into growth stage and pre-IPO companies will be the emphasis of trica products, which will operate on a SaaS model.
On the investment into trica, Subrata Mitra, Partner, Accel India, said, “Startups are becoming mainstream at an ever-faster pace, and just like the DEMAT moment for public markets, we believe we're at the right inflection point where private company ownership needs to be managed and scaled digitally.
That's exactly the mission that LetsVenture and trica have at their core.”
India's domestic capital pool is growing, according to LetsVenture. According to reports, India would receive over $65 billion in investment by 2025, with $30 billion coming from India's domestic capital.
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