Myelin Foundry Secures $4 Million to Bolster Edge AI Solutions and Global Expansion

Myelin Foundry
Preeti Bali / 7:43 am / May 9, 2024

Myelin Foundry, a pioneering deep technology company specializing in artificial intelligence (AI), has secured a fresh round of funding worth $4 million. The investment round was spearheaded by SIDBI Venture Capital Limited (SVCL), a prominent venture capital firm. Existing investors, including Endiya Partners, Pratithi Investment Trust, and Subh Labh, also participated in the funding round.

Building on Previous Success

This new investment follows Myelin Foundry’s successful Series A round in 2023, which garnered $3 million led by Visteon Corporation. The Bengaluru-based company is poised to leverage these combined funds to further strengthen its AI platforms and solidify its leadership position within the edge AI space.

Fueling Innovation and International Expansion

The proceeds from this funding round will empower Myelin Foundry to refine its existing AI platforms. Additionally, the company plans to utilize the capital to support its expansion into international markets, broadening its global reach and influence.

Revolutionizing Video and Audio Experiences with Edge AI

Founded in January 2019 by Dr. Gopichand Katragadda and Ganesh Suryanarayanan, Myelin Foundry has established itself as a leader in edge AI solutions. Their innovative platforms deploy real-time AI at the network’s edge, significantly enhancing video and audio experiences for end users.

A Trusted Partner for Leading Companies

Myelin Foundry has garnered the trust of leading global companies in the automotive and over-the-top (OTT) sectors. These companies are actively integrating Myelin’s AI solutions into their automotive and customer devices, harnessing the power of AI to optimize user experiences.

Positioned for Growth in the Thriving AI Market

The global artificial intelligence market is experiencing explosive growth, with an estimated size of $200 billion in 2023. Industry projections anticipate a compound annual growth rate (CAGR) of 36.6% from 2024 to 2030. With its cutting-edge solutions and strategic investments, Myelin Foundry is well-positioned to capitalize on this flourishing market and solidify its place as a major player in the AI landscape.

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