The new capital brings Udaan’s total funding to date to US$1.15 billion. Indian Business-to-Business (B2B) ecommerce startup Udaan announced on January 6 that it has raised US$280 million in additional financing from existing investors Lightspeed Venture Partners, DST Global, GGV Capital, [...]
Hasura extends its GraphQL engine to MySQL and SQL Server databases
Hasura, a data access infrastructure company based in San Francisco and Bengaluru, has raised US$25 million in Series B funding, the company announced in a statement yesterday.
The round was led by U.S.-based venture capital firm Lightspeed Venture Partners. It also saw participation from new angel investors including Microsoft Chairman John Thompson, as well as existing backers India-U.S. venture fund Nexus Venture Partners, and Tokyo-based Strive VC, and U.S.-based Vertex Ventures US and SAP.iO Fund, the statement said.
The fresh capital puts the company’s total funding quantum at $36.5 million. The funding will be put to use to drive hiring efforts, and increase investment in the company’s open source and commercial product development in order to “support its millions of users,” the statement added.
“Although we’ve been well capitalized, with a good revenue stream, building an open-source infrastructure product and company is not easy. With this recent fundraise, we’re in an even better place to invest in our community, build faster, and support our customers even better than today,” Co-founder and CEO Tanmai Gopal noted in the company’s official blog.
He added the funds will enable the company to continue building its community of users, launch new database integrations such as with MySQL, further collaborate with partners Haskell and GraphQL, and prepare for a “distributed and remote future”.
Hasura was founded in 2017 by Gopal and COO Rajoshi Ghosh, and open-sourced a year later in July 2018, with the aim of streamlining access to data for developers.
This year, Hasura’s open source GraphQL engine was made available on-premises through Hasura Enterprise, the statement noted. Further, the company also released Hasura Cloud, a managed unified GraphQL service for hybrid- and multi-cloud.
The company had earlier announced a $9.9 million Series A round led by Vertex Ventures U.S., and had also previously raised $1.6 million seed funding in 2018, led by Nexus Venture Partners, the statement said.
The company joined GraphQL Foundation in the same year as a founding member, the statement said, joining the likes of big tech companies such as Facebook, Amazon Web Services and Twitter, amongst others.
Along with the funding announcement, Hasura also noted in the statement that it has added GraphQL support for the MySQL database type as well as early access support for SQL Server databases, in addition to its existing support for PostgreSQL.
“Data lives in lots of places, and in many different databases. We want our users to be able to access that data instantly with Hasura’s secure, scalable data access infrastructure so adding support for MySQL and SQL Server was our obvious next step,” Gopal noted in the statement.
“It opens up huge potential for all the developers who need to access the vast amounts of data that lives in MySQL and SQL Server today,” he added.
By allowing for instant data access through its auto-generating modern GraphQL application program interface (API), Hasura is able to reduce the time-to-market for applications, the company noted in the statement.
“We’re very impressed by how developers have taken to Hasura and embraced the GraphQL approach to building applications,” Partner at Lightspeed Venture Partners, Gaurav Gupta said in the statement. Gupta will be joining Hasura’s board as part of the deal, Gopal noted in the company’s official blog.
Gupta added that Hasura’s API solution makes it easier for front-end developers to connect applications to existing databases without security or performance issues, especially with rising cloud penetration.
“Hasura provides a lovely bridge for replatforming applications to cloud-native approaches, so we see this approach being embraced by enterprise developers as well as front-end developers more and more,” Gupta also said.
Header image courtesy of Hasura