With the latest fundraise, Hasura is valued at $1 billion, making it the tenth startup to enter India’s unicorn club this year. It joins the likes of edtech firm Lead School, 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 funding to accelerate research and development and expand go-to-market activities globally for its flagship GraphQL Engine. Including the latest investment, the total equity raised by the company stands at $136.5 million.
“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, chief executive officer, Hasura.
The new funding comes after the company had
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 offers a host of solutions designed to make web application development faster. It makes data access easy by instantly composing a ‘GraphQL API’ (application programming interface) that is backed by databases and services so that the developer team (or API consumers) can improve their productivity and make improved iterations. According to the company, its solution has been downloaded more than 400 million times.
Last year, developer tool provider Postman was valued at $5.6 billion, making it one of highest-valued Indian software startups, after raising $225 million in a round led by Insight Partners.
