Nexus Venture Partners backed Druva has raised a fresh funding of $130 million (around Rs 902.5 crore at the current exchange rate) to join the Unicorn club of technology startups valued above $1 billion.
According to the report the funding round is being led by US-based investment firm Viking Global Investors. Founded in 1999, Viking Global Investors manages around $28 billion of capital for investors with offices in Greenwich, New York, Hong Kong, London and San Francisco.
Neuberger Berman and Atreides Capital are the two other new investors taking part in this round while existing investors including Riverwood Capital, Tenaya Capital and Nexus have also contributed.
Druva was founded in Pune by Jaspreet Singh, an Indian Institute of Technology-Guwahati graduate, along with Milind Borate and Ramani Kothandaraman back in 2008.
The company delivers data protection and management for the cloud. Druva’s cloud platform is built on Amazon Web Services (AWS). It claims to help customers reduce costs by up to 50% by freeing them from unnecessary hardware, capacity planning, and software management. Druva has more than 4,000 enterprise customers including Flex, Hitachi, Live Nation, Marriott, and Pfizer.
Druva had previously raised $80 million in a funding round led by Riverwood Capital in 2017.
Druva joins logistics-technology firm Delhivery Pvt. Ltd in joining India’s unicorn club this year. Delhivery had in March raised $395 million (around Rs 2,784 crore) in a Series F funding round led by Japanese conglomerate SoftBank.
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