en.Wedoany.com Reported - Supabase, an artificial intelligence startup co-founded by New Zealanders, has completed a $500 million (approximately NZ$837 million) Series F venture capital round, achieving a valuation of $10 billion—a fivefold increase in less than a year.

Supabase provides tools such as AI assistants to manage the Postgres open-source database, which is used by millions of software developers and users of the current popular AI trend "vibe coding" to rapidly build applications like real-time subscriptions. The rise of native AI coding tools such as Claude Code has also driven its growth. Its slogan is "Built in a weekend, scaled to millions of users," and its users include companies such as Netflix, LinkedIn, IBM, Google, Microsoft, HP, SAP, Shopify, Meta, and Salesforce.

This funding round was led by Singapore sovereign wealth fund GIC, with new investors Stripe and Salesforce participating, and support from existing shareholders Accel, Y Combinator, and Coatue. The size of the stakes has not been disclosed; typically, after a Series F round, co-founders' shareholdings are diluted to around 10% to 15%. Supabase was founded in 2020 by Paul Copplestone, who grew up in Christchurch, and Ant Wilson, a native of Liverpool. Both entered Silicon Valley's Y Combinator startup accelerator. The company's funding history includes: $150,000 in pre-seed funding in late 2020, $6 million in seed funding the same year, $30 million in 2021, $80 million in 2022, $80 million in 2024, $200 million in 2025 (at a $2 billion valuation), and now $500 million in Series F at a $10 billion valuation.

Although large database giants like Oracle remain entrenched, Copplestone and Wilson believe that every software revolution—including the current AI and "vibe coding"—presents disruption opportunities at the underlying database layer, a view shared by investors.

Additionally, several other New Zealand expatriates have founded or co-founded AI companies. For example, Wayve's co-founder and CEO Alex Kendall, based in London, whose autonomous driving technology powers Uber's first robotaxis, raised $1.5 billion in February this year from Uber and other investors (including New Zealand's Icehouse Ventures, which contributed $12.5 million) at an $8.6 billion valuation. Nuro's co-founder Dave Ferguson, based in San Francisco, raised $203 million in August last year from investors including Nvidia at a $6 billion valuation (Icehouse invested another $5 million). Substack's co-founder Hamish McKenzie, based in San Francisco, which can be considered an AI company, raised $100 million in July last year at a $1.1 billion valuation (Icehouse invested $5 million). Others include Adrian Macneil, whose physical-world AI startup Foxglove raised $40 million (valuation undisclosed); Harry Mellsop's Antioch raised $15 million at a $102 million valuation; and Nic Lane's Flower Lab raised $20 million at a $100 million valuation.

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