Restate lands $20M as the need for durable infrastructure increases with AI agents

What happened

The team behind a technology that underpins real-time data use in banking has raised $20m in a Series A (an early stage of company funding) funding round for a startup, which carries out the plumbing work behind AI agents (AI that carries out multi-step tasks rather than answering one question). Restate has now raised $27m in total, it said.

Founded by Apache Flink veterans, the startup is taking on workflow heavyweight Temporal. The funding round in Berlin-founded Restate was led by European VC Singular, with participation from Redpoint Ventures and Capital One Ventures.

The funding will support product development and its expansion in the United States, including a new commercial hub in San Francisco. Restate says it’s building a new generation of infrastructure for applications, from distributed backend to AI agents. Its tech allows developers to get on with the day job while it carries out the plumbing work.