Capital continues to consolidate around the underlying infrastructure of AI, this time at the layer enterprises actually run on. The week’s largest checks went to a database platform positioning itself for agentic workloads, an Ethernet fabric vendor tied to large-scale AI clusters, and a cloud data security firm operating at private-equity scale. Two smaller but strategically notable deals rounded out the week: a silicon-based quantum processor effort in France, and a multi-layer optical archive specialist targeting hyperscaler cold storage. Taken together, the rounds underscore a shifting investor focus from frontier model labs toward the systems that store, move, secure, and compute against the data those models depend on.
Supabase
Round: $500M Series F (post-money valuation $10.5B) | Sector: Cloud / Database Infrastructure
Supabase has raised $500 million in a Series F led by GIC at a $10.5 billion post-money valuation, with Stripe doubling down and Salesforce Ventures joining the cap table. The open-source Postgres platform is explicitly positioning the new capital around agentic infrastructure, a recognition that AI applications are quickly becoming the dominant consumer of managed database services. With total funding now past $1 billion, Supabase is no longer the scrappy alternative to hyperscaler databases. It is becoming a primary destination for them.
DriveNets
Round: $410M Series D | Sector: Networking
DriveNets closed a $410 million Series D led by Bessemer Venture Partners and Atreides Management, with AMD joining the round as a new strategic investor. The Israeli networking software company builds Ethernet fabric for large-scale AI clusters and has been cash-flow positive since 2025, with over $1 billion in secured business. AMD’s presence on the cap table signals where this category is headed: heterogeneous AI infrastructure that does not assume a single accelerator vendor.
Cyera
Round: $300M Series G | Sector: Cloud Data Security
Cyera raised $300 million in a Series G led by Evolution Equity Partners, with Sequoia, Greenoaks, Lightspeed, Coatue, Accel and Sapphire Ventures all returning. The data security posture management company now sits at roughly $1.9 billion in total equity raised, a valuation profile that reflects how much enterprise spend is moving toward classifying and protecting the unstructured data feeding AI systems. For CISOs, the round is a reminder that the data layer is becoming the most expensive part of the security stack.
Quobly
Round: €115M Series A (approximately $133M) | Sector: Semiconductors / Quantum Computing
French quantum startup Quobly secured €115 million in a Series A led by Bpifrance, STMicroelectronics and SEALSQ, with Air Liquide’s ALIAD also participating. The company is building silicon-based quantum processors using standard CMOS manufacturing, an approach designed to make quantum hardware scalable inside existing semiconductor fabs. For enterprise IT planners, the round is a useful marker on the industrialization curve, even if commercial deployment remains several years out.
Folio Photonics
Round: $8M Series A | Sector: Data Storage
Folio Photonics closed an $8 million Series A co-led by Material Impact and The O.H.I.O. Fund to scale its multi-layer optical disk archival technology, with target media costs starting around $3 per terabyte. The Ohio-based startup is actively engaged with hyperscaler partners as it transitions from R&D into productization. Cold storage economics rarely make headlines, but optical archive is one of the few pathways that can absorb the long-tail data growth AI workloads are generating without rewriting cloud cost models.
The Weekly Funding Pulse tracks the most significant IT infrastructure, cloud, semiconductor, networking, and ITSM funding rounds each week. Coverage is curated for enterprise IT professionals and decision-makers.
