New Delhi, Jun 11 (PTI) Myelin Foundry, a deep-tech AI startup, on Thursday said it has raised funding from Infosys co-founder S Gopalakrishnan’s family office ‘Pratithi’.
The amount of the funding has not been undisclosed.
Myelin Foundry, which was founded in January last year by Gopichand Katragadda, Ganesh Suryanarayanan and Aditi Olemann, had raised USD 1 million in seed round in September 2019 led by Endiya Partners.
“The funds from this round will be used for penetration in over-the-top (OTT) market in India and internationally,” a statement said.
The company added that it is seeing significant traction with large customers and is looking to raise its series-A funding over the next two quarters.
“Kris has been an innovation evangelist and a startup supporter personally as well as through Confederation of Indian Industry (CII). We look forward to Kris’s guidance as we deploy solutions at the intersection of artificial intelligence (AI) and complex unstructured data for edge devices,” Katragadda said.
Myelin Foundry is building edge AI products that transform visual experiences and personalised outcomes on consumer edge devices using proprietary AI algorithms for video, voice, and sensor data.
Myelin’s first product in the market, Fovea Stream, is in the media and entertainment space and deploys on edge devices such as mobile phones to provide the highest quality visual experience with low bandwidth consumption for OTT providers and viewers.
“Myelin is at the leading edge of AI/machine learning-based solutions. They are creating solutions that will change industries and Pratithi is happy to support the executive leadership of Myelin on this journey,” Gopalakrishnan said.