Myelin Foundry, a Bengaluru-based deep tech product startup, announced that it has raised fresh round of funding from Kris Gopalakrishnan’s family office, Pratithi. Financial details of the funding remain undisclosed.
The fresh round of funding will be utilised to boost expansion. The company has plans for expansion into the Indian and international over-the-top market. The startup said it is seeing significant traction with its large customers and will look to raise Series A funds by the next two quarters.
“Myelin is at the leading edge of AI/ML based solutions. They are creating solutions that will change industries and Pratithi is happy to support the executive leadership of Myelin on this journey,” said Kris Gopalakrishnan, Co-Founder, Infosys and Chairman, Axilor Ventures.
Founded in 2019 by Gopichand Katragadda, Aditi Olemann and Ganesh Suryanarayanan, Myelin Foundry builds edge AI products on consumer devices with its proprietary algorithms for video, voice, and sensor data.
“We are thrilled to have Kris join us in the exciting journey of developing global first products from India. Kris has been an innovation evangelist and a startup supporter personally as well as through CII. We look forward to Kris’s guidance as we deploy solutions at the intersection of AI and complex unstructured data for edge devices,” said Katragadda.
The Myelin team has expertise in productising deep learning frameworks including CNNs, and GANs, with applications in Media & Entertainment, Health & Wellness, and National Security. Recently, the startup raised $1 million seed funding led by Endiya Partners.
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