Hasura raises $100 million, becomes tenth startup unicorn of 2022

Bangalore: Hasura, a software company that helps developers with tools, has raised $100 million in a new funding round led by Greenox Capital. The round also saw participation from existing investors Nexus Venture Partners, Lightspeed Venture Partners and Vertex Ventures.

With the latest fundraising, Hasura is valued at $1 billion, making it the tenth startup to enter India’s unicorn club this year. It joins edtech firm LeadSchool, direct-to-consumer brand Mamaearth, analytics platform Fractal, social commerce platform DealShare and HR tech player Darwinbox.

The company, which is based in San Francisco and Bengaluru, plans to use the funds to accelerate research and development for its flagship GraphQL engine and expand its go-to-market activities globally. Including the latest investment, the total equity raised by the company is $136.5 million.

“This funding enables Hasura to increase our innovation velocity, which in turn allows our rapidly growing user base to distribute the software even more quickly. With this funding round, our investors and Hasura team data We are doubling down on our vision of solving Access and unlocking the next decade of developer productivity. We are rapidly meeting the needs of our users by adding support for their favorite data systems,” said Tanmai Gopal, Chief Executive Officer, Hasura. are going to do.

The new funding comes after the company raised $25 million in September 2020 led by Lightspeed Venture Partners, with participation from existing investors Vertex Ventures US, Nexus Venture Partners, Strive VC and SAP.IO Fund.

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Hasura is an open source platform that provides a host of solutions designed to accelerate web application development. It simplifies data access by instantiating a ‘GraphQL API’ (application programming interface) backed by databases and services so that the developer team (or API consumer) can improve their productivity and perform better iterations. According to the company, its solution has been downloaded more than 400 million times.

Last year, developer tools provider Postman was valued at $5.6 billion, making it one of the most valuable Indian software startups after raising $225 million led by Insight Partners.

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