Deeptech AI startup Myelin Foundry has raised $3 million in a Series A funding round led by Visteon Corporation, with participation from Endiya Partners, Beyond Next Ventures, and Pratithi Investment Trust.
The startup plans to use the raised capital to consolidate its platforms and expand into international markets.
Founded in January 2019 by Gopichand Katragadda and Ganesh Suryanarayanan, Myelin Foundry said it transforms human experiences and industry outcomes by building artificial intelligence algorithms on video, voice, and sensor data for edge devices.
It deploys artificial intelligence in real-time, at the edge, to provide unparalleled video and audio experiences and outcomes.
Myelin’s first product — Fovea Stream — enables HD viewing experiences with SD transmission. The startup has been awarded the ‘NASSCOM Emerge 50’ in the Enterprise category and the ‘Investor’s choice’ in the sixth cohort of the NetApp Excellerator.