[Funding alert] Developer tools startup Hasura raises $25M in Series B round from Lightspeed, others
Tech firm Hasura on Tuesday said it has raised $25 million (about Rs 184.3 crore) in funding led by Lightspeed Venture Partners (US).
The series B funding also saw participation from existing investors Vertex Ventures US, Nexus Venture Partners, Strive VC, SAP.iO Fund, and new angel investors, including John Thomson, the current chairman of Microsoft, a statement said.
The latest round brings the total funding raised by the company to $36.5 million, it added.
"Hasura is using the funding to accelerate its hiring and investment in its open source and commercial product development to support its millions of users," the statement said.
Speaking about the investment, Gaurav Gupta, partner at Lightspeed Venture Partners and Hasura board member, said,
"Hasura makes it easy to connect applications to existing databases where all the data is without compromising on security and performance... we see this approach being embraced by enterprise developers as well as front-end developers more and more."
Hasura co-founder and CEO Tanmai Gopal said data lives in lots of places, and in many different databases.
"We want our users to be able to access the data instantly with Hasura's secure, scalable data access infrastructure... Hasura's built-in security, governance, and scalability features will get its applications into production quickly and safely," he added.
Founded in 2017 by Tanmai Gopal, CEO, and Rajoshi Ghosh, COO, Hasura makes access to data easier for application developers struggling with outdated approaches to API development. The startup has made instant data access possible by auto-generating modern GraphQL APIs with in-built security, governance, and scalability.
Earlier this year, Hasura raised $9.9 million in Series A funding led by Vertex Ventures US. In 2018, Hasura had raised $1.6 million in seed funding led by Nexus Venture Partners.
(Disclaimer: Additional background information has been added to this PTI copy for context)
Edited by Megha Reddy