TLDR:
Myelin Foundry, a deeptech startup, raised $4 million led by Sidbi Venture Capital to fuel platform development, global expansion, and solidify their edge AI leadership.
Article Summary:
Myelin Foundry, an artificial intelligence-based deeptech startup, secured $4 million in funding led by Sidbi Venture Capital. The funding round also saw participation from existing investors Endiya Partners, Pratithi Investment Trust, and Subh Labh. The funds will be used to strengthen Myelin’s AI platforms, support international expansion, and solidify their position in the edge AI space. The company was founded in 2019 by Gopichand Katragadda and Ganesh Suryanarayanan, with a focus on delivering video and audio experiences. Myelin Foundry’s customer base includes global automotive and online streaming players. The company has previously received funding from Detroit-based automotive supplier Visteon Corporation. The investment from Sidbi Venture Capital is seen as a vote of confidence in Myelin’s growth trajectory and the potential of their AI platforms. The global artificial intelligence market is estimated to grow significantly in the coming years, providing a promising outlook for Myelin Foundry. This funding round is expected to play a crucial role in positioning Indian startups on the global AI map.
