🌌 The new customer doesn't have a credit card
Supabase now adds about 4 million databases a month. Roughly 70% of them are created by agents or AI tools, not people.
Take a second with that. The fastest-growing customer for developer infrastructure isn't a developer-it's software acting on someone's behalf, spinning up backends at a pace no human team could match.
That shift changes who wins. Over the past two weeks, we've seen money pour into companies building for this new customer: clouds for agents, guardrails for agents, and the agents themselves. Here's what caught our attention—and what we think it means.
✍️ Why we're writing this
We spend our days talking to technical founders and tracking where the market is headed. So we're starting this newsletter to share what we're seeing: the news we think is worth your time, our honest take, and the companies and ideas we can't stop thinking about.
🔭 The big picture: agents are getting their own infrastructure
Daytona raised a $60M Series B at a $1B valuation on Tuesday. Here's the pitch: today's clouds were built for people, and agents need somewhere else to work.
Two weeks earlier, Supabase raised $150M led by GIC and bought Turso to serve huge numbers of small, disposable databases that agents create. It also launched hosted sandboxes for long-running agents.
Our read: The agent stack is being rebuilt from the bottom up, and infrastructure is moving first. Next, we expect the fight to shift to the layers in between: memory, interfaces, and security. That's where we're spending most of our attention.
📡 Signal vs. noise
Manus raised more than $500M, its first round since Beijing forced Meta to unwind its acquisition. That tells us agent apps can still command big checks, even amid geopolitical drama.
Town raised a $108M Series B at a $1B+ valuation for business AI assistants. So that's two agent-economy unicorns in a single Tuesday.
Pluto Security came out of stealth with $42M. And what caught our attention: its tools found a Fortune 500 employee's vibe-coded customer app sitting open on the internet.
Opsin raised $21M to govern enterprise agents, and Asymptote Labs raised a $5.5M seed for agent runtime control. Taken together, these raises suggest agent security is becoming its own category.
Vesta raised $30M for mortgage agents. Lenders start with a person approving each step, then gradually hand over more. That's the adoption pattern we'll be watching elsewhere, too.
Ramp raised $1.85B at a $60B valuation as annualized revenue passed $2B. To us, that's a striking sign of how fast AI-native software can scale.
Arda Industries raised a $160M Series A at $1.5B for manufacturing-engineering AI. And vertical AI rounds keep getting bigger—and happening earlier.
🧱 The agent stack, and the founders we back
Put this week's news side by side, and you'll see a stack taking shape. Here's each layer and the company we've backed at Gravitational Ventures!
Backend - InsForge. The backend platform for AI-native apps. Supabase's 70% stat suggests agents are already the main builders. InsForge is designed for them from day one. They are YC backed!
Interface -CopilotKit. Open-source infrastructure for in-product copilots. Vesta's playbook—human approval, then delegation—works best with interfaces where people and AI can work side by side. That's the kind of infrastructure CopilotKit provides.
Memory - CMEM. Open-source memory for agents, with hosted sync and MCP recall. Some agents now run for hours or weeks. Without memory, every new session starts from zero. CMEM crossed 100k stars last week!
Agents -Ipsion AI. A self-improving agent team for founders and one-person companies, with human oversight built in. Manus and Town show us the appetite for agents at enterprise scale. Ipsion brings that idea to solo founders.
Security - Staris AI. Staris continuously validates security by simulating attackers and confirming real exploits. As more people ship more software, faster, there are more holes worth finding.
End user -MindHub. MindHub's AI chats turn scattered thoughts into structure. This is where the whole stack meets a person's day.
Curious about the companies we've invested in? Feel free to drop us an email at [email protected] for more information!
👀 What we're looking at next
The stack isn't finished, and neither is our map of it. Here are the gaps we're watching most closely:
Agent identity and permissions. Pluto, Opsin, and Asymptote all bring us back to the same question: who is this agent, and what is it allowed to touch? Whoever answers that cleanly could become default plumbing.
Evaluation and observability. You can ship an agent today, but it's still hard to tell whether it's getting better or quietly getting worse.
Per-agent data infrastructure. If agents spin up millions of tiny databases, they'll need the same kind of infrastructure for files, queues, and search.
Hand-off interfaces. Vesta's "approve, then delegate" loop points to a need for software that helps people trust an agent with more, gradually.
Vertical agents with real workflows. We're seeing money follow vertical agents that own a specific job end to end—in mortgages, manufacturing, and legal.
If you're building in one of these areas, reply-we'd love to compare notes.
On a single Tuesday!
Here's the eye-catching number: two new $1B+ agent companies, Daytona and Town, were announced on a single Tuesday. A year ago, that would've been a quarter's worth.
🤔 Contrarian corner: the bottleneck is physical
Microsoft just walked away from Nscale's Essex data center after grid officials said power might not arrive until the 2030s. Nscale's IPO filing shows two customers make up about 85% of its contracts.
Here's our take: giant compute bets now carry utility-grade risk. If compute stays scarce, the winners will be software layers that make every agent run cheaper, smarter, and safer. When power is the constraint, efficiency beats scale.
💬 Your Turn
For founders: if agents become your biggest user, what breaks first in your product? Hit reply we would love to hear from you.
For investors: Curious about companies in our portfolio and how we think about investing in them? Great opportunity to explore!
For everyone else: which of these shifts feels most relevant to your work or daily life? Tell us what you’re seeing or where you think we need to shift our focus!
Interested in exploring our investment portfolio? Feel free to send an email to [email protected] for more information!