Funding · AI & Deep Tech

Portkey raises $15 million Series A

By Startup Enthusiast · 19 February 2026

What they do

Portkey provides a unified API gateway to over 1,600 AI models

It raised a $15 million Series A led by Elevation Capital with Lightspeed participating

The company processes over 500 billion LLM tokens daily for 24,000 enterprises

Portkey raised a $15 million Series A round.
The round was led by Elevation Capital.
Existing investor Lightspeed also participated.
The company will use the funds to expand its product suite and scale go-to-market operations.
Portkey has raised over $18 million in total including this round.
It previously raised a $3 million seed round led by Lightspeed in 2023.

Indian AI startups raised nearly $500 million across 63 deals in 2025.
Indian-origin AI startups raised over $1.8 billion between 2020 and 2025.
About 80% of that funding went to application-layer AI ventures.
Recent AI funding includes BotGauge AI's $2 million round and CraftifAI's $3 million seed.

Portkey is an LLMOps platform that provides a unified API gateway.
It connects to over 1,600 AI models from various providers.
The platform handles routing requests to large language models (LLMs).
It offers automatic fallbacks, load balancing, and downtime prevention.
Portkey provides observability, guardrails, and cost management features.
It processes over 500 billion LLM tokens across 125 million requests daily.
The platform manages over $500,000 in daily AI spending for 24,000 enterprises.
It manages over $180 million in annualised LLM spending.
Customers include Postman and Snorkel AI.

Elevation Capital (lead) — A venture capital firm investing in technology startups.
Lightspeed (participated) — A global venture capital firm that led Portkey's seed round.