Hasura, a startup based in San Francisco and Bangalore, raised USD 100 mn funding led by Greenoaks Capital on February 23, 2022. The funding comes in Series C round, which also saw the participation of Nexus Venture Partners, Lightspeed Venture Partners and other existing investors.
With this recent fundraise, Hasura becomes the tenth startup to enter into India’s unicorn club this year. Previously, Mamaearth, Dealshare, Darwinbox and Lead School had joined the unicorn club.
Utilization of funds
Hasura plans to use the funds to invest in research and development. It also wants to expand its market activities for GraphQl Engine.
The latest funding raises its equity capital to USD 136.5 million.
Previously in September 2020, the company secured funding of USD 25 million. Lightspeed Venture Partners led it with participation from existing investors. The existing investors were Vertex Ventures US, Nexus Ventures Partners, Strive VC and SAP.iO Fund.
What the Hasura founder has to say-
“This funding enables Hasura to greatly increase our innovation velocity, which in turn allows our rapidly-expanding user base to deliver software even faster. With this funding round, our investors and the Hasura team are doubling down on our vision to solve data access and unlock the next decade of developer productivity. We’re going to be addressing the needs of our users by adding support for their favourite data systems much faster,” said Tanmai Gopal, CEO of Hasura, in a statement.
What Greenoaks Capital has to say–
Neil Shah, the partner at Greenoaks Capital, said, “There are few better signs of a powerful developer experience than enthusiastic adoption. And on this count, there aren’t many companies like Hasura.”
He also added, “Since the launch of their GraphQL engine in 2018, Hasura has witnessed explosive uptake across countless organizations, from grassroots open-source projects to some of the largest companies in the world. The common thread is substantial improvements in developer productivity and decreased time to market for mission-critical applications.”
About Hasura
Hasura is a Saas Company with a base in San Fransico and Bangalore. It develops simplified software solutions for easy application development. It is the company behind the popular open-source Hasura Graph QLEngine. The Hasura Graph QLEngine can turn any database into a Graph QL API. It also includes an event trigger system to develop serverless apps. Its customers include Swiggy, Airbus, and Walmart, among others.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
