[Weekly funding roundup] Venture investments begin on a tepid note for month of March
Venture funding for first week of March was little under $50 million with lower number of deals, but debt financing was higher at $55 million
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The first week of March has not begun on a positive note for the Indian startup ecosystem with decline in venture funding when compared to the last week of February.
The week saw total venture funding of $49 million spread across 14 deals. This compared poorly with the last week of February, where the amount had touched $403 million.
Although, the positive highlight of the week was debt venture fund, which actually had a higher amount when compared to the equity funding. There were four debt deals during the week which garnered $55 million.
Yugabyte Raises $48 Million Funding Round, Will Double Its Headcount In 2021 opensourceforu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from opensourceforu.com Daily Mail and Mail on Sunday newspapers.
Yugabyte announces $48M investment as cloud-native database makes enterprise push
As demand for cloud-native applications is growing, Yugabyte, makers of the cloud-native, open-source YugabyteDB database, is seeing a corresponding rise in demand for its products, especially with large enterprise customers. Today, the company announced a $48 million financing round to help build on that momentum. The round is an extension of the startup’s $30 million Series B last June.
Lightspeed Venture Partners led the round with participation from Greenspring Associates, Dell Technologies Capital, Wipro Ventures and 8VC. It has raised a total of $103 million, according to the company.
Kannan Muthukkaruppan, Yugabyte co-founder and president, says the startup saw a marked increase in interest in both the open-source and commercial offerings in 2020 as the pandemic pushed many companies to the cloud faster than they might have gone otherwise, something many startup founders have pointed out to
Yugabyte Raises $48 Million Funding Round to Accelerate Distributed SQL Enterprise Adoption and Fuel Global Expansion – Consumer Electronics Net consumerelectronicsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from consumerelectronicsnet.com Daily Mail and Mail on Sunday newspapers.
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Hudson River Trading Joins Rapidly Growing Roster of Enterprise Customers; Company Acquires Falarica.io to Fuel APAC R&D and Recruiting Yugabyte, the leader in open source distributed SQL databases, today announced a $48 million funding round led by Lightspeed Venture Partners with additional participation by Greenspring Associates, Dell Technologies Capital, Wipro Ventures and 8VC. Coming on the heels of a $30 million capital raise announced in June 2020, the round brings Yugabyte s total funding to $103 million. The funding will be used to expand Yugabyte s R&D, sales and customer functions in the EMEA and APAC markets. To support its aggressive expansion plans, Yugabyte will double its headcount in 2021.