Hasura Turns to be Unicorn Startup of 2022

Hasura, a software company which helps developers with tools, has raised $100 million in a fresh funding round led by Greenoaks Capital. The round also saw participation from existing investors Nexus Venture Partners, Lightspeed Venture Partners and Vertex Ventures. 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 like 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, CEO, Hasura.

Hasura is an open source platform that offers host of solutions designed to make web application development faster

The new funding comes after the company had raised $25 million in September 2020, led by Light speed Venture Partners, with participation from existing investors Vertex VenturesUS, Nexus Venture Partners, Strive VC and SAP.iO Fund. Hasura is an open source platform that offers 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 data bases 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.