08th May 2024 – AI startup Myelin Foundry announced a $4 million equity fundraising led by SIDBI Venture Capital Ltd (SVCL), with support from existing investors. The funds will fuel expansion into international markets and bolster their AI platforms for real-time video and audio experiences, catering to automotive and over-the-top players.
Founded in January 2019 by Gopichand Katragadda and Ganesh Suryanarayanan, Myelin aims to transform industries with Edge AI solutions. CEO Gopichand Katragadda expressed enthusiasm about accelerating their journey with valued partners.
SVCL’s senior fund manager Debraj Banerjee praised Myelin’s innovative approach and leadership, envisioning a prominent role for Indian startups in the global AI landscape. Endiya Partners’ managing partner Sateesh Andra commended Myelin’s platform for delivering real-time AI computing on the Edge.
Kris Gopalakrishnan, co-founder of Infosys and investor in Myelin through Pratithi Investment Trust, reiterated their commitment to supporting Myelin’s mission of pioneering AI platforms.
Conclusion
Myelin Foundry’s successful equity round underscores its momentum in the AI domain. With support from investors and a focus on innovative solutions, the startup is poised to make significant contributions to the global AI market.
Source:Link
