The unicorn craze has not left India, as homegrown startups continue to cross the $1 billion valuation mark and enter the unicorn club. Mamaearth, Fractal, and Darwinbox were some of the first names to become unicorns this year, and now, the list is getting another addition in the form of GraphQL firm Hasura.
Hasura helps developer build and deploy web applications faster, thanks to their proprietary GraphQL engine. And now, a fresh $100 million Series C funding catapulted it into the unicorn club – the tenth unicorn this year. The round was led by Greenoaks Capital and included participation from existing investors Nexus Venture Partners, Lightspeed Venture Partners, and Vertex Ventures.
Based in San Francisco and Bengaluru, Hasura was founded in 2017 by Tanmai Gopal and Rajoshi Ghosh and has raised $136.5 million in total equity to date. The open-source platform plans to use the proceeds from the funding round to speed up research and development and expand go-to-market activities globally for its flagship GraphQL Engine.
“This funding enables Hasura to greatly increase our innovation velocity, which in turn allows our rapidly-expanding user base to deliver software even faster,” said Tanmai Gopal, Hasura CEO. “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 favorite data systems much faster.”
Its flagship GraphQL Engine cuts down the time needed to compose a GraphQL API for data access from existing APIs and databases. It claims that its solution has over 400 million downloads and earned over 25, 000 GitHub stars since its introduction in 2018.
It also reduces app development time by automating repetitive functions and optimizing performance, and by eliminating bottlenecks to data access for frontend and full-stack developers.
It also provides data APIs that can connect to multiple services and data sources, embed domain-specific authorization logic, and provide the necessary security and performance/concurrency, and is driving recruitments to enable its mission-critical applications in data-driven journalism, tele-health, electric car companies, modern manufacturing and logistics, space technology, and other areas.
