Deeptech startup Myelin Foundry raises $3 Mn in Series A round

Deeptech AI startup Myelin Foundry has raised $3 million in its Series A led by Visteon Corporation. Other participating investors include Endiya Partners, Beyond Next Ventures, and Pratithi Investment Trust. 

The new round will be used to consolidate Myelin’s platforms and expand into international markets. Myelin will further build capabilities and position.

Founded in January 2019 by Gopichand Katragadda and Ganesh Suryanarayanan, Myelin Foundry transforms human experiences and industry outcomes by building artificial intelligence algorithms on video, voice, and sensor data for edge devices. 

Myelin Foundry’s platforms deploy artificial intelligence in real-time, at the edge to provide unparalleled video and audio experiences and outcomes. The company has also established its product-market fit and built key customer relationships which include streaming services and automotive OEMs.

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.

In May last year, the startup had raised $1 million in its pre-Series A round led by Japanese VC firm Beyond Next Ventures.