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Deep tech AI startup Myelin Foundry has raised a pre-series A round of $1 million led by Japanese VC firm, Beyond Next Ventures. The company was founded in January 2019 by Gopichand Katragadda, Ganesh Suryanarayanan and Aditi Olemann. Endiya Partners, who invested during the Seed stage has also participated of the pre-Series A fund raise. Myelin Foundry is a deep tech product startup transforming human experiences & 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 experiences with SD transmission. Among other recognitions, Myelin has been awarded the ‘Nasscom Emerge 50’ in the Enterprise category, and the ‘Investor’s choice’ in the 6th cohort of the NetApp Excellerator.
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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.”
Indian deep tech startup Myelin Foundry raises $1m pre-series A led by Beyond Next
Photo: Luca Bravo/ Unsplash.com
May 12, 2021
Bengaluru-based deep tech artificial startup, Myelin Foundry, on Wednesday said that it has raised $1 million as a part of its pre-series A round led by Japanese venture capital firm, Beyond Next Ventures.
Existing investor, Endiya Partners, also participated as a part of the pre-Series A round.
The company will be using the funds to further consolidate its presence in the India market, and expand into international geographies.
Myelin Foundry is a deep tech product startup, which allows users to access high-definition streaming experiences, through its proprietary product, Fovea Stream.
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