iNDICA NEWS BUREAU
Wipro Ventures, the venture arm of India software major Wipro, has reportedly participated in $30 million investment in Yugabyte, an open source database company.
8VC led the funding round in which existing investors Lightspeed Venture Partners and Dell Technologies Capital participated.
The round took Sunnyvale, California-based Yugabyte’s total funding to $55 million, according to the startup.
The fresh round would help it meet growing demand for its cloud native, geo-distributed SQL database, YugabyteDB, the startup said in a media release.
Wipro Ventures managing partner Venu Pemmaraju was quoted as saying by The Economic Times:
“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.”
Kannan Muthukkaruppan, co-founder and president of Yugabyte, was quoted saying: “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.”