ⓘ Featured image: A file-photo of Kris Gopalakrishnan; credits: Infosys.com
Bengaluru-based deep tech startup Myelin Foundry on Thursday announced that the company raised an undisclosded amount from Kris Gopalakrishnan, who is a co-founder of Infosys and also the chairman of the venture capital firm Axilor Ventures.
The company revealed that the funding will be utilised for penetration in the OTT market in India and globally.
Commenting on the funding round, Gopalakrishnan in a statement said,
“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,”
Myelin Foundry was founded in Januray 2019 by former group CTO of Tata Sons, Gopichand Katragadda Ganesh Suryanarayanan and Aditi Olemann. The company last raised $1 million in a seed funding round in September 2019 from Endiya Partners.
Myelin builds 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.
Talking about the development of Myelin Foundry, Gopichand said,
“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,”