Kris Gopalakrishnan, co-founder Infosys and Chairman, Axilor Ventures invested an undisclosed amount in Bangalore-based deep tech firm, Myelin Foundry through his family office, Pratithi. The startup has decided to utilize the latest funding in expanding its reach in Indian and International market.
Myelin Foundry said in a statement that they have been garnering great attention from their customers and plan on to raise Series A round in next 2 quarters. “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,” stated Kris.
Gopichand Katragadda, former group CTO of Tata Sons founded Myelin which had raised $1 million in a seed round in September 2019 led by Endiya Partners. Myelin Foundry builds edge AI products on consumer devices with its proprietary algorithms for video, voice, and sensor data. The startup created a product named Fovea Stream for the Media and Entertainment industry that is installed in mobile phones helping the users to stream highest quality videos at 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,” said Katragadda.