Backup Software Provider Druva.com get $10 million funding from Nexus

Update: It appears that the report in ET, on which this article is based, was inaccurate. Please see this update.

Pune-based startup Druva, which sells enterprise backup software, has just closed a second round of funding worth $10 million from Nexus Venture Partners, reports Economic Times.

In April 2010, Druva had raised $5 million from Sequoia and the Indian Angel Network. At that time, these are the reasons we gave for why we liked Druva:

  • Druva is a purely homegrown startup. This is not a company started by someone in the US setting up a development center in India.
  • Druva is a product startup. It is not a services company. Hence, it has a potential for exponential growth and returns.
  • Druva is not done by serial entrepreneurs. The co-founders are all first-time entrepreneurs who quit their big-company jobs to start Druva. This should give hope to all the first-time entrepreneurs in Pune.

Druva has been one of PuneTech’s favorite startups and we have covered it extensively in the past, so, frankly, there isn’t much new that we’ll be able to say about it. Instead, we’ll simply point readers to the older articles:

We also want to point out that Druva is one of the sponsors of PyCon – the International Python Conference that’s happening in Pune next month.

We wish Druva luck, and although getting another round of VC funding is not as good an indicator of success as an IPO or an acquisition, we would still like to repeat what we said in April 2010:

  • We now have in our midst a startup success story that will hopefully inspire a 100 new software product startups in Pune.

4 thoughts on “Backup Software Provider Druva.com get $10 million funding from Nexus

  1. Thanks Navin, but this news is not very accurate. This was unethically leaked and then misreported by Peerzada (abrar.shz@timesgroup.com) of ET for some cheap thrills.

    Not sure when would people this these grow up and stop screwing lives of entrepreneurs who are already fighting against all the ods.

    You have been a great supporter and I would give you a call sometime next week to give accurate information and some more good news.

    Jaspreet

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