New Delhi, April 10 -- Indian private equity firm WestBridge Capital, which backs unlisted companies and also makes private investments in public equities, has led a $60 million (Rs 518 crore) funding round in database-as-a-service startup Tessell.
Existing investor Lightspeed Venture Partners and new investors B37.vc and Rocketship.vc also participated in the Series B round, the company said in a statement.
Tessell intends to use the fresh capital to accelerate its go-to-market expansion and fuel research and development.
"Enterprises today struggle with siloed data and rigid database solutions that are incomplete, lacking performance, resilience, governance, and flexibility," said Bala Kuchibhotla, co-founder and chief executive of Tessell. "At Tessell, we are creating a seamless, secure, high-performant AI-driven platform that supports both operational and analytical workloads-powering a true data ecosystem."
The startup, founded in 2021, helps to better manage enterprise databases in the cloud. It enables enterprises to modernize databases, optimize cloud economics, and drive intelligent decision-making at scale. While the company is headquartered in San Francisco, California, it has a significant employee base in Bengaluru.
"Prior to Tessell, few companies could challenge incumbents in database management despite their inefficiencies. Now, enterprises are shifting to Tessell for a high-performing and cost-effective solution, spending less time managing their databases and creating more business value," said Sumir Chadha, co-founder and managing partner at WestBridge.
Last month, WestBridge participated in California-based artificial intelligence infrastructure startup Nexthop AI as part of the company's $110-million funding round led by venture capital firm Lightspeed Venture Partners. It also invested in cloud storage management platform Lucidity and its existing portfolio company Rapido in India.
Published by HT Digital Content Services with permission from VC Circle.