Weekly rundown: Hasura becomes unicorn; Niyo, MediBuddy raise large rounds

Developer tools platform Hasura, fintech Niyo, and digital healthcare start-up MediBuddy raised large venture capital rounds - $100 million or more - this week. 

San Francisco and Bengaluru-based Hasura raised $100 million in fresh funding round at a valuation of $1 billion, becoming the latest startup unicorn. The Series C funding round was led by Greenoaks with participation from existing investors Nexus Venture Partners, Lightspeed Venture Partners and Vertex Ventures. The platform makes web application development faster by eliminating bottlenecks to data access for frontend and full-stack developers. 

Consumer neo-banking platform Niyo secured $100 million in its Series C round of funding, led by Accel and Lightrock India with the participation from Beams Fintech Fund. Existing investors Prime Venture Partners and JS Capital also participated in this round along with others. The company said it will utilise the funds for product innovation, marketing and branding, increasing its distribution footprint, and hiring top talent across functions.

Bangalore-based MediBuddy raised $125 million in a Series C funding round led by Quadria Capital and Lightrock India along with participation from existing investors Bessemer Venture Partners, India LifeSciences Fund III, Rebright Partners, JAFCO Asia, TEAMFund LP, FinSight Ventures, InnoVen Capital, Stride Ventures, and Alteria Capital. 

The start-up said it will use the fresh capital to make further investments in customer awareness, hiring, strengthening technology platforms including data science capabilities, clinical research, and product development. 

MediBuddy offers 24x7 access to specialist doctors via video calls, doorstep medicine delivery, at-home lab tests, mental health support, and other integrated healthcare services. 

The week saw a handful of startup acquisitions. 

Subscription management platform Chargebee acquired collections management platform numberz and launched Chargebee Receivables. The new product allows subscription businesses to automate their receivables process from purchase to payment, in addition to managing subscription products and invoices. 

Tata-owned BigBasket snapped up Agrima Infotech, a company that enables food and retail firms to build deep tech solutions at scale.  The Kochi-based start-up, incubated by Kerala Startup Mission (KSUM), will help BigBasket to implement its technology platform 'Psyight' at the self-checkout counters of the TATA enterprise's retail stores. 

SaaS company AiDash acquired geospatial- and AI-powered farming solutions provider Neurafarms.ai in. AiDash enables satellite and AI-powered operations, maintenance and sustainability for industries with geographically distributed assets. AiDash said the acquisition will help it leverage satellites and AI to enhance operations, maintenance and sustainability for core industries.

Venture capital funds IvyCap Ventures and Prime Venture Partners raised capital for their funds. Home-grown venture capital fund IvyCap Ventures secured the first close of its third fund at $214 million while Prime Venture Partners marked the final close of its fourth fund at $120 million, overshooting its initial target of raising $100 million.  

Also read: Fintech start-up Niyo raises $100 million in a Series C funding round

Also read: Nexus-backed open source start-up Hasura turns unicorn; raises $100 mn