Myelin Foundry, a deep tech AI startup plans to expand its video streaming products in the international markets.
This development comes in the backdrop of Myelin raising a pre-series A round of $1million, led by Japanese VC firm, Beyond Next Venture.
The company was founded in January 2019 by Dr. Gopichand Katragadda, Ganesh Suryanarayanan, and Aditi Olemann.
Endiya Partners who invested in the seed stage were also a part of the pre–Series A Fund Rise.
Myelin Foundry is a deep tech product startup that helps transform the experiences of organisations and people by building AI algorithms on video, voice, and sensor data for edge devices.
The company will use the funds raised to consolidate Myelin’s products in the Indian video streaming market and expand into the international markets and to build capabilities and position itself to be a leader in the edge AI space across industries, the company said.
“We are excited to welcome Beyond Next Ventures as an investor. Myelin has developed globally leading products and capabilities in Edge AI. We look forward to partnering with BNV and accessing the Japanese ecosystem. I am also happy to see the confidence of our seed round investors, as they continue to support our journey,” said Gopichand Katragadda, Founder and CEO of Myelin.
“We are very pleased to be the lead investor for Myelin Foundry’s Pre-Series A round. Myelin, led by Founder Dr. Katragadda, is a deep tech startup with a strong focus on Edge AI Platform technology.
As a shareholder, I look forward to contributing to Myelin’s business expansion in collaboration with Japanese companies,” stated Tsuyoshi Ito, CEO & Managing Partner of BNV.
“This investment by Japanese VC firm Beyond Next Ventures will allow Myelin to strengthen its portfolio of AI solutions and grow its market”, added Kris Gopalakrishnan, the co-founder of Infosys and one of the investors at Myelin.