Myelin Foundry, a deeptech AI startup backed by Infosys Ltd.’s co-founder Kris Gopalakrishnan, has raised $1 million in a pre-Series A funding round led by Beyond Next Ventures, a Japanese venture capital fund.
Endiya Partners, who invested during the seed stage, also participated in this round.
The company will use the capital raised to consolidate its products in India’s video streaming market and expand into international markets. And to further build capabilities to position itself as a leader in the edge Artificial Intelligence space across industries.
Founded by Gopichand Katragadda, Ganesh Suryanarayanan and Aditi Olemann in January 2019, Myelin Foundry aims to transform human experiences and industry outcomes, by building AI algorithms on video, voice, and sensor data, for edge devices. Myelin’s first product in the market, Fovea Stream, enables HD viewing with SD transmission.
“Myelin has developed global leading products and capabilities in Edge AI. We look forward to partnering with BNV and accessing the Japanese ecosystem,” said Katragadda, also the chief executive officer of Myelin. “I am also happy to see the confidence of our seed round investors, as they continue to support our journey.”
“As a shareholder, I look forward to contributing to Myelin’s business expansion in collaboration with Japanese companies,” Beyond Next Ventures CEO Tsuyoshi Ito said.
(Except for the headline, this story has not been edited by TTE staff and is published from a syndicated feed.)
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