Portkey Raises USD 15 Mn in Series A Led by Elevation Capital with Lightspeed Participation The fresh capital will be used to expand Portkey's AI control plane and scale its go-to-market operations.
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Artificial intelligence infrastructure startup Portkey has raised USD 15 million in a Series A funding round led by Elevation Capital, with participation from existing investor Lightspeed.
The company had previously secured USD 3 million in seed funding from Lightspeed in August 2023.
The fresh capital will be used to expand Portkey's AI control plane and scale its go-to-market operations. The company plans to strengthen support for agent-based systems by adding controls for permissions, identity, and budget management, while improving performance for low-latency applications.
Founded by Rohit Agarwal and Ayush Garg, Portkey develops a unified control plane for production AI systems. Its platform combines an AI gateway with governance, observability, reliability, and cost-management tools. Positioned within the path of AI traffic, the system helps enterprises manage model usage, enforce policies, and monitor spending in real time.
Portkey says its platform processes more than 500 billion large language model tokens across 125 million daily requests. It manages over USD 500,000 in AI spending each day for more than 24,000 organisations worldwide. Customers include Postman and Snorkel AI.
The company has also made its core enterprise gateway available free of charge to help teams implement governance and observability controls early in AI deployments.
Elevation Capital recently launched a USD 400 million fund to support long-term growth companies, while continuing early-stage investments from its USD 670 million Fund VIII.
