Hasura Enters Unicorn Club! Raises $100 Mn Funding From Greenoaks, Existing Investors

GraphQL developer platform Hasura has become the latest entrant to the coveted unicorn club after raising $100 Mn led by Greenoaks Capital. The Series C funding round also saw participation from existing investors such as Nexus Venture Partners, Lightspeed Venture Partners, and Vertex Ventures.

With the fresh capital infusion, Hasura has to date raised around $136.5 Mn. 

Founded in 2018 by Tanmai Gopal and Rajoshi Ghosh, Hasura provides data access and data flow tools and services via GraphQL APIs, a solution to accelerate product and data delivery. The company’s technology automatically creates realtime GraphQL APIs, granting customers instant access to their data via secure APIs. This helps developers to solve the problems around connecting to databases

GraphQL is an open-source data query and manipulation language for APIs, and a runtime for fulfilling queries with existing data. It was developed internally by Facebook in 2012 before being publicly released in 2015.

Hasura plans to utilise the funding to accelerate research and development and expand its go to market activities globally for GraphQL Engine.  

The fresh round of investment comes almost after two years when it had raised $25 Mn in its Series B round. The startup had then raised the investment from Lightspeed Venture Partners in participation with Vertex Ventures, Nexus Ventures, among others. The startup had raised almost $10 Mn in its Series A round.

The startup claims that its application has been downloaded more than 400 Mn times and has earned more than 25,000 GitHub stars since its introduction in 2018.

The startup claims that its databases are supported by PostgreSQL, Amazon Aurora, Microsoft SQL Server, Google BigQuery, among others. Some of Hasura’s major clients in India are food delivery platform Swiggy, and Intellect Design. 

Hasura has now become the ninth unicorn of 2022. Within the first two months of 2022, the Indian startup ecosystem has seen the rise of Lead School, ElasticRun, Livspace, Darwinbox, Fractal, Dealshare, Xpressbees, Uniphore, and Hasura as unicorns. 

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