Portkey raised $15 million in Series A funding led by Elevation Capital, with participation from Lightspeed, to scale its unified control plane for production AI. The company now processes 500 billion tokens daily across 24,000+ organizations, managing $180 million in annualized AI spend—highlighting the infrastructure chasm that has emerged as AI transitions from experimental tool to business-critical system.

The timing reflects an industry inflection point where AI adoption has outpaced operational maturity. Companies are running mission-critical functions like customer support, underwriting, and coding on infrastructure originally designed for prototypes, creating reliability and governance gaps that traditional cloud platforms weren’t built to address.

Temporal Technologies raised $300 million in Series D funding at a $5 billion valuation, led by Andreessen Horowitz, as enterprises grapple with the fundamental reliability crisis holding back AI agent deployments in production environments.

The round—which included Lightspeed Venture Partners, Sapphire Ventures and existing investors like Sequoia—validates the market’s urgent need for infrastructure that ensures AI agents can execute complex, long-running workflows without failing midstream. While AI models become increasingly capable, the systems around them struggle with real-world execution challenges.

Render has raised $100 million in a Series C extension at a $1.5 billion valuation, bringing total funding to $258 million as the cloud startup positions itself as the infrastructure backbone for AI applications and autonomous agents.

The funding, led by Georgian Partners with participation from Addition, Bessemer, General Catalyst, and 01A, comes as traditional cloud infrastructure proves fundamentally misaligned with AI agent execution patterns. While web applications rely on stateless request-response cycles, AI agents demand long-running, stateful, and distributed execution that existing platforms struggle to support.