Bangalore-based AI startup Myelin Foundry is adding a significant step to the Indian tech scene. It has lately secured $4 million funding led by SIDBI Venture Capital Ltd (SVCL) and this is considered to be a key milestone for the company. It is learned that Myelin Foundry will use the fresh investment in efforts to continue pushing the boundaries of artificial intelligence (AI) deployment.
Myelin Foundry simultaneously received support from existing investors including Endiya Partners, Pratithi Investment Trust and Subh Labh. The capital is to help the startup in placing its position strong on global front in the global Edge AI technology segment.
Edge AI simply can be defined as a cutting-edge computational approach that allows for fast operations directly at the network’s edge. It promises significant reductions in processing times.
Myelin Foundry was founded in January 2019 by Gopichand Katragadda and Ganesh Suryanarayanan. It is set to expand its footprint across international markets.
Myelin Foundry CEO Gopichand Katragadda expressed confidence in the performance of the company so far and said that the investment reaffirms the confidence of investors and the potential of their Edge AI as well as Gen AI platforms.
He added further that the mission of Myelin Foundry is to transform industries by delivering Edge AI solutions that redefine customer experiences.
The AI platforms of Myelin Foundry are designed to revolutionize real-time video and audio experiences. These basically caters to a diverse customer base like global automotive and OTT (over-the-top) players.
Lately, industry leaders are eagerly utilizing the power of AI in enhancing their products as well as their services across the world.
