Deeptech startup Myelin Foundry Secures $3 Mn in Series A round
Myelin Foundry Pvt. Ltd. has raised Series A funding of $3 million (about Rs 24.3 crore), led by US-based automotive supplier Visteon Corporation. The company runs an eponymous deep technology firm focused on streamlining content development.
Endiya Partners, Beyond Next Ventures, and Pratithi Investment Trust also took part in the financing, The Bengaluru-based firm will use the additional funding to broaden its reach internationally, as per reported by VCCircle.
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“Myelin was founded with a vision to transform human experiences and industry outcomes by building and deploying IP-led proprietary edge AI products to process video, voice and sensor data. We hope to scale in the mobility ecosystem,” said Katragadda, co-founder and chief executive at Myelin.
The deep tech product firm Myelin Foundry was established in 2019 by Gopichand Katragadda and Ganesh Suryanarayanan, and it specialises on Edge AI for the media & entertainment and automotive industries.
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“Edge AI is important to multiple industries as data volumes grow. Myelin is positioned to deliver value at the Edge,” said Sachin Lawande, president and chief executive officer at Visteon Corporation.
About Myelin Foundry
Myelin Foundry is a deep tech product start-up that creates artificial intelligence (AI) algorithms on video, audio, and sensor data for consumer edge devices to alter human experiences and industry outcomes. Their main goal is to create high-performance AI algorithms that can switch, scale, and adjust themselves while operating in resource-constrained situations (such as on inexpensive, low-performance edge devices).
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