NetBox Labs Raises $35M to Scale the Infrastructure Stack for AI

In 2024, global data center capital expenditure rose 51% to $455 billion, according to Dell’Oro Group. That surge is largely driven by the buildout of AI-native infrastructure (See OpenAI’s Stargate, xAI’s Colossus), which meant a shift in compute power, along with how networks themselves are designed, deployed, and maintained. For many of the companies that are part of that shift, including hyperscaler CoreWeave, a key enabler has been NetBox Labs. Founded as a commercial steward of the open-source NetBox project, NetBox Labs develops a platform for network infrastructure management, essentially replacing the spreadsheets and manual processes that many organizations still rely on. This week, the company just announced a $35 million Series B led by NGP Capital, bringing its total