Getty ImagesBENGALURU: Wipro Ventures, the venture arm of Wipro has participated in $ 30 million investment in Yugabyte, a open source database company and plans to take the product to its over 1000 clients globally.
The funding was led by 8VC with existing investors Lightspeed Venture Partners and Dell Technologies Capital participating in the round. This round brings the company’s total funding to $55 million, said the company.
The fresh round would help Yugabyte meet growing demand for its cloud native, geo-distributed SQL database -- YugabyteDB, said the startup in a press release. SQL is a computer programming language used in data management.
“We see a big opportunity to leverage Yugabyte’s technology for building and powering our clients’ newest web-scale applications. With geographic data distribution and high-performance requirements, distributed SQL provides very compelling value to our clients, particularly those in Financial Services and Retail," said Wipro Ventures managing partner Venu Pemmaraju.
Yugabyte has also added Scott Yara, co-founder and former SVP of Products of Pivotal Software, to its board of directors. Yugabyte’s commercial products include Yugabyte Platform, a self-managed private database-as-a-service offering available on any public, private, or hybrid cloud or Kubernetes infrastructure and Yugabyte Cloud, a fully-managed database service currently available on AWS and Google Cloud.
“We built YugabyteDB from the ground up to meet the untapped cloud native database demand from small and large enterprises alike. This round of funding from 8VC, Wipro Ventures, and others validates our approach,” Kannan Muthukkaruppan, co-founder and President, Yugabyte, was quoted saying.
“Bhaskar Ghosh, Partner & CTO at 8VC who led the investment and will join the Yugabyte board, is no stranger to enterprise data infrastructure; he worked at the core of Oracle and Informix databases and later helped fuel LinkedIn's growth as its Head of Data Engineering. We are thrilled to be working with Bhaskar and 8VC's dynamic team of investors with entrepreneurial roots that take a long-term view on disruptive technologies like ours,” said Muthukkaruppan.
Research firm Gartner has forecast that 75% of all databases would be deployed or migrated to a cloud platform in 2022.
The funding was led by 8VC with existing investors Lightspeed Venture Partners and Dell Technologies Capital participating in the round. This round brings the company’s total funding to $55 million, said the company.
The fresh round would help Yugabyte meet growing demand for its cloud native, geo-distributed SQL database -- YugabyteDB, said the startup in a press release. SQL is a computer programming language used in data management.
“We see a big opportunity to leverage Yugabyte’s technology for building and powering our clients’ newest web-scale applications. With geographic data distribution and high-performance requirements, distributed SQL provides very compelling value to our clients, particularly those in Financial Services and Retail," said Wipro Ventures managing partner Venu Pemmaraju.
Yugabyte has also added Scott Yara, co-founder and former SVP of Products of Pivotal Software, to its board of directors. Yugabyte’s commercial products include Yugabyte Platform, a self-managed private database-as-a-service offering available on any public, private, or hybrid cloud or Kubernetes infrastructure and Yugabyte Cloud, a fully-managed database service currently available on AWS and Google Cloud.
“We built YugabyteDB from the ground up to meet the untapped cloud native database demand from small and large enterprises alike. This round of funding from 8VC, Wipro Ventures, and others validates our approach,” Kannan Muthukkaruppan, co-founder and President, Yugabyte, was quoted saying.
“Bhaskar Ghosh, Partner & CTO at 8VC who led the investment and will join the Yugabyte board, is no stranger to enterprise data infrastructure; he worked at the core of Oracle and Informix databases and later helped fuel LinkedIn's growth as its Head of Data Engineering. We are thrilled to be working with Bhaskar and 8VC's dynamic team of investors with entrepreneurial roots that take a long-term view on disruptive technologies like ours,” said Muthukkaruppan.
Research firm Gartner has forecast that 75% of all databases would be deployed or migrated to a cloud platform in 2022.
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