Amritsar, NFAPost: Deep tech artificial intelligence (AI) startup Myelin Foundry has raised funding from Infosys co-founder Kris Gopalakrishnan’s family office “Pratithi”. The amount of funding was not disclosed.
The company said funds from this round of funding will be used for penetration in OTT market in Indian and internationally. The startup also added that it was seeing significant traction with large customers, and was looking to raise its Series A funding over the next two quarters.
Founded in January 2019 by Dr. Gopichand Katragadda, Ganesh Suryanarayanan and Aditi Olemann, the start up had earlier in September raised $1 mln in seed round led by Endiya Partners.
“Myelin is at the leading edge of AI/ML based solutions. They are creating solutions that will change industries and Pratithi is happy to support the executive leadership of Myelin on this journey,” Kris Gopalakrishnan said.
Myelin Foundry is building edge AI products that transform visual experiences and personalized 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 at the disruptively low bandwidth consumption for OTT providers and viewers.
“We are thrilled to have Kris join us in the exciting journey of developing global first products from India. Kris has been an innovation evangelist and a startup supporter personally as well as through CII. We look forward to Kris’s guidance as we deploy solutions at the intersection of AI and complex unstructured data for edge devices,” Katragadda said.