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AI apps building platform Portkey raises $15 Mn in Series A led by Elevation

EntrackrEntrackr · 1d ago
AI apps building platform Portkey raises $15 Mn in Series A led by Elevation
Medial

Artificial intelligence apps building platform Portkey has raised $15 million in a Series A round led by Elevation Capital, with participation from existing investor Lightspeed. Portkey had secured $3 million in a seed funding round led by Lightspeed in August 2023. The company will use the capital to expand its AI control plane and scale go-to-market operations. The proceeds will be used to enhance support for agent-based systems with additional controls around permissions, identity, and budget management, while improving performance for low-latency use cases. Founded by Rohit Agarwal, Portkey builds a unified control plane for production AI systems. The platform combines an AI gateway with governance, observability, reliability, and cost management features. Its system sits in the path of AI traffic and helps enterprises manage model usage, enforce policies, and track spending in real time. According to Portkey, it already processes over 500 billion LLM tokens across 125 million requests per day. The platform manages more than $500,000 in AI spend daily for over 24,000 organisations globally. Its customers include Postman and Snorkel AI. The firm has also made its core enterprise gateway available for free, aiming to lower the barrier for teams to implement governance and observability controls early in their AI deployments. In August last year, Elevation Capital launched a new $400 million fund focused on backing companies over the long term, including those preparing for IPOs. For early-stage investments, it continues to deploy capital from Fund VIII, a $670 million vehicle launched in April 2022 that typically invests $2–5 million in startups.

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Vibe coding startup Emergent raises $70 Mn led by Khosla Ventures and SoftBank

EntrackrEntrackr · 1m ago
Vibe coding startup Emergent raises $70 Mn led by Khosla Ventures and SoftBank
Medial

AI software creation platform Emergent has raised $70 million in a Series B funding round led by Khosla Ventures and SoftBank Vision Fund 2, with participation from Prosus, Lightspeed, Together, and Y Combinator. With this round, the company has raised a total of $100 million within seven months of launch. The Series B comes less than three months after Emergent’s $23 million Series A round led by Lightspeed, underscoring the pace at which the company has scaled. The investment also marks SoftBank’s return to AI-focused investments in India. The fresh capital will be deployed towards team expansion, faster product development, and entry into new markets. As demand rises for AI-powered tools that simplify and accelerate software creation, Emergent is scaling its platform to support a growing global user base building and monetizing applications without traditional technical constraints. Founded in 2025 by former Dunzo co-founder Mukund Jha and his brother Madhav Jha, Emergent offers an AI-led platform that enables users to build full-stack, production-ready web and mobile applications using autonomous agents. The platform manages the entire development lifecycle, from design and testing to deployment and scaling, while also offering built-in monetization through integrated billing partners such as Stripe. Emergent claims to have scaled its annual recurring revenue from $100,000 at launch to $50 million within seven months. The company is targeting to cross $100 million in ARR by April 2026 and currently has more than 5 million users across over 190 countries, with adoption driven largely by entrepreneurs and small businesses building and launching commercial software products.

UnifyApps raises $20 Mn in Series A, appoints new co-founder

EntrackrEntrackr · 1y ago
UnifyApps raises $20 Mn in Series A, appoints new co-founder
Medial

Unified enterprise AI agent platform UnifyApps has raised $20 million in its Series A funding round, led by ICONIQ Growth, with participation from existing investors, including Elevation Capital. This latest round brings the company’s total funding to $31 million. In May, the firm raised $11 million in a seed round led by Elevation Capital. Over the past year, UnifyApps has developed a robust platform to connect and automate enterprise systems. Designed for scalability, UnifyApps integrates deeply with all the SaaS applications within an organization, allowing teams to manage all their data in one place, automate workflows, and create advanced applications using a no-code approach. UnifyApps now enables teams to build custom AI agents trained on their enterprise’s knowledge base, benefiting departments across the organization—from IT to HR to Sales. The platform offers tools for observability, compliance, and fine-tuning, ensuring that AI agents meet standards for accuracy, security, and auditability. Co-founded by Pavitar Singh, Sumeet Nandal, Abhishek Kurana, Rachit Mittal, Abhinav Singi, Rahul Anishetty, Kavish Manubolu, and Shivam Satrawal, UnifyApps has appointed Haitham ElKhatib as the company’s new Chief Revenue Officer and co-founder. Before joining UnifyApps, ElKhatib served as the Senior Vice President of Sales for Growth Markets at Sprinklr. According to the company, it has gained significant traction with early customers, including one of the leading banks, a leading telecommunications provider, and a leading security company, amongst many others. The company has also expanded its team to over 150 employees and established new offices in Gurugram, Dubai and New York.

Smart Joules raises $10 Mn in Series B round

EntrackrEntrackr · 2m ago
Smart Joules raises $10 Mn in Series B round
Medial

Smart Joules raises $10 Mn in Series B round Energy services firm Smart Joules has raised $10 million in a Series B round led by Neev II Fund, managed by SBI Ventures Limited, with participation from Waaree Renewable Technologies and Spectrum Impact. The proceeds will be used to expand its energy efficiency and cooling operations across commercial and industrial facilities in India. The focus areas include manufacturing units, building automation, and district cooling projects. Funds will also be deployed to strengthen its technology, data systems, and on-ground execution teams. Founded in 2014 by Arjun P. Gupta, Sidhartha P. Gupta, and Ujjal Majumdar, Smart Joules operates on an efficiency-first model and works with enterprises to reduce energy use without upfront capital from customers. Its product suite includes JoulePays for performance-based energy efficiency contracts, JouleCool for cooling-as-a-service, and DeJoule, its AI-led building management platform. According to the company, it has so far conserved 32.1 crore kWh of energy, reduced 2.4 lakh tonnes of CO₂ emissions, and delivered Rs 266 crore in energy cost savings. Smart Joules is targeting a reduction of 29 million tonnes of carbon emissions by 2030.

Seekho app raises $8 Mn in Series A led by Lightspeed

EntrackrEntrackr · 1y ago
Seekho app raises $8 Mn in Series A led by Lightspeed
Medial

Learning-focused OTT platform Seekho has raised $8 million in its Series A round, with Lightspeed leading the investment, according to a LinkedIn post by the company’s founder and CEO, Rohit Choudhary. The round also saw participation from Elevation Capital. Previously, the Bengaluru-based startup raised $3 million from Elevation and other investors in March of last year. Entrackr exclusively reported about the deal in September. “This is a testament to the trust our users, team, and investors place in us as we build India's go-to short video platform for Lifelong Learning,” said Choudhary via Linkedin post. While the company did not provide many details about the round, it was expected to be valued at around $45 million. Founded in 2020 by Choudhary, Keertay Agarwal, and Yash Banwani, Seekho helps individuals acquire new skills and knowledge. The platform offers a variety of courses to prepare learners for careers in fields such as parenting, the stock market, Instagram, and education, among others. Targeting audiences in tier-II cities and beyond, Seekho delivers educational content through short 2-5 minute videos in episodic series. The platform provides flexible subscription plans, with weekly and monthly options starting at Rs 149. According to startup data intelligence platform TheKredible, Elevation Capital acquired nearly a 24% stake in the company after the pre-Series A round. All three co-founders held 16.65% stake each as of that round. As per Entrackr's sources, Seekho is expected to dilute 20% of its equity in the Series A financing round.

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