Developer tooling products startup Hasura Inc.has raised $9.9 million (approximately Rs 71.24 crore at current exchange rates) in its Series A funding round led by Vertex Ventures US, the early-stage venture capital firm.
Existing investors Nexus Venture Partners and Strive VC also participated in the round. Others that participated in the funding include enterprise resource planning company SAP’s SAP.iO Fund, Hasura said in a statement.
Angel investors such as Firebase founder James Tamplin, GitHub executive Sam Lambert, Udaan co-founder Amod Malvia and former Yelp executive Michael Stoppelman also took part.
San Francisco- and Bengaluru-based Hasura’s platform focusses on giving developers access to the high-performance data layer (GraphQL and JSON), API gateway with authentication middleware, and GitOps automation.
The firm will use the funds to enhance its technological infrastructure, product development, and recruitment for its sales and marketing divisions.
“These funds will help us bring the Hasura and GraphQL experience to other databases to mobilize data in organizations by making high-performance and secure data access a reality,” company co-founder and CEO Tanmai Gopal said.
Separately, Vertex Ventures US partner Sandeep Bhadra said the firm was confident in its investment because of its product engineering, customer and enterprise acquisition capabilities. “Hasura makes it possible for front-end teams to use GraphQL and move fast without breaking things on the back-end,” he added.
San Francisco- and Bengaluru-based Hasura’s platform focusses on giving developers access to the high-performance data layer (GraphQL and JSON), API gateway with authentication middleware, and GitOps automation.
Hasura raised $1.5 million (around Rs 10 crore) from Nexus Venture Partners and GREE Venture, VCCircle exclusively reported in October 2017.
Investors
The early-stage Vertex Ventures has backed companies such as Licious, Yatra, Payfazz and Socash. The firm says it supports its portfolio with operating experience and access to its network of capital, talent, partners, and customers.
Nexus, meanwhile, is an India-US venture capital firm with assets of over $1 billion under management and an active portfolio of over 50 companies across technology, internet, media, consumer and business services sectors. Its portfolio companies include Druva, Infoworks, Jumbotail, Goodbox, and Goodera.
Strive VC backs companies during their seed- to Series A-stages, and seeks out companies in Japan, Southeast Asia, and India in sectors such as the internet and mobile. Active companies in its domestic portfolio include Testsigma, Classplus, Flyrobe, and Medtrail.
