TMT
By
Lightspeed leads Series B funding for Hasura
Photo Credit: 123RF.com

Hasura Inc., which operates a developer-focussed tooling products startup, has raised $25 million (Rs 184 crore) in a Series B funding round.

The round in the San Francisco- and Bengaluru-based startup has been led by Lightspeed Venture Partners, with participation from existing investors including Vertex Ventures, Nexus Venture Partners, Strive VC and the SAP.iO Fund, which is the investment arm of enterprise resource planning company SAP.

Microsoft chairman John Thompson also joined the round as an angel investor, Hasura said. The capital infusion takes the total funding raised by the company to $36.5 million.

The Series B round also comes just six months after the startup raised $9.9 million (around Rs 71 crore) in its Series A round. That exercise was led by Vertex Ventures, with participation from Nexus, Strive, and SAP.iO.

Hasura – set up by Tanmai Gopal and Rajoshi Ghosh in 2017 – says its platform focusses on giving developers access to high-performance data layers (GraphQL and JSON), API (application programming interface) gateway with authentication middleware, and GitOps automation.

It will use the capital from this Series B investment to accelerate its hiring and investments in its open source and commercial product development. It has also enabled support for technologies such as MySQL and SQL Server.

“Hasura provides a lovely bridge for re-platforming applications to cloud-native approaches, so we see this approach being embraced by enterprise developers as well as front-end developers more and more,” Lightspeed partner Gaurav Gupta said.

Hasura raised $1.5 million (around Rs 10 crore) from Nexus Venture Partners and GREE Venture, VCCircle exclusively reported in October 2017.

The company is among a handful of homegrown developer-focussed startups that have raised funding in recent months.

Another Nexus portfolio company – Postman Inc. – in June raised $150 million (around Rs 1,138 crore) in a Series C funding round that valued it at $2 billion. Global venture capital and private equity firm Insight Partners led the round, with CRV and Nexus also participating.

In July, publicly-listed mobile commerce and marketing solutions provider Affle (India) Ltd picked up an 8% stake in OSLabs Pte Ltd, which operates India-focussed indigenous app store and operating system IndusOS.

Leave Your Comment(s)