Deeptech startup Myelin Foundry has raised $3 million in an early stage funding round led by Visteon Corporation, a Detroit-based automotive supplier, according to ETtech report.
Returning investors Endiya Partners, Beyond Next Ventures, and Pratithi Investment Trust also invested in the round.
Pratithi Investment Trust is Infosys co-founder Kris Gopalakrishnan’s family office, a statement said.
“As shareholders, we look forward to contributing to Myelin’s business expansion in Mobility,” said Sachin Lawande, president and CEO of Visteon Corp., which supplies parts for automotive cockpits and also houses technical and manufacturing teams in India.
Founded in 2019 by former Tata Sons group chief technology officer Gopichand Katragadda and former Tata Group employees Ganesh Suryanarayanan and Aditi Olemann, Myelin builds artificial intelligence algorithms based on video, voice and sensor data for Edge devices. The company had last raised $1 million in a pre-Series A funding round led by Japan-based Beyond Next Ventures.
The fresh capital will consolidate Myelin’s platforms and expand into international markets, the statement said, adding that Myelin will also further build capabilities.
“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 look forward to partnering with Visteon and scaling in the Mobility ecosystem,” founder and CEO Katragadda said.
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