GenAI startup Portkey has raised $15 Mn (nearly ₹136.6 Cr) in its Series A funding round led by Elevation Capital. The round also saw participation from existing backer Lightspeed.
In a statement, the SaaS startup said that it plans to utilise the funding to expand its product suite and scale go-to-market operations.
Founded in 2023 by Ayush Garg and Rohit Agarwal, Portkey operates an LLMOps platform that provides a unified API gateway to over 1,600+ AI models. This enables enterprise teams to route requests to various LLMs, provide automatic fallbacks, balance load and prevent downtime.
Simply put, it helps enterprises manage model usage, enforce policies and track spending in real time. It also offers features such as observability, guardrails and cost management.
The startup claims to process more than 500 Bn LLM tokens across 125 Mn requests every day, and manages more than $500K in daily AI spending at 24,000 enterprises. It also claims to manage more than $180 Mn in annualised LLM spending. The startup counts names such as Postman and Snorkel AI as customers.
Including the current round, Portkey has raised more than $18 Mn to date. It last raised $3 Mn in its seed round led by Lightspeed in 2023.
The development comes at a time when investor interest continues to build up for Indian AI startups. As per Inc42 data, homegrown AI startups raised nearly $500 Mn across 63 deals last year. From a broader perspective, Indian-origin AI startups raised over $1.8 Bn between 2020 and 2025, with nearly 80% (around $1.6 Bn) flowing into application-layer ventures.
Continuing the momentum, agentic AI startup BotGauge AI raised $2 Mn in a funding round led by Surface Ventures last month. Earlier this week, GenAI platform CraftifAI also bagged $3 Mn in its seed round led by Ankur Capital.
AI-powered drug discovery startup Peptris also secured ₹70 Cr in a Series A round co-led by IAN Alpha Fund and Speciale Invest this month.
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