Myelin Foundry, a Bengaluru-based tech artificial startup, announced on Friday that it had raised USD 1 Million in pre-series A. This round was led by Beyond Next Venture, a Japanese venture capital firm.
The existing investor Endiya Partners also participated in this funding round.
The company will utilise the amount raised to expand its steps in the Indian Market and further reach out to the international market.
About the Investors –
Beyond Next Venture
The Beyond Next Venture is a venture capital firm based in Tokyo that invests in medical, health and life wellness fields.
The company was started and established by Tsuyoshi Ito in August 2014. It has invested in nearly 62 investment rounds, of which 29 of them are lead investments. The most recent acquisition by the company is in Meylin Foundry. Some of the other successful investments done by the firm are Alchemedicine and Olive Union.
Words from Investors –
“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, chief executive and managing partner of Beyond Next Ventures
About the company –
Myelin Foundry is a deep tech startup that let users stream in high definition through a third-party product named Fovea Stream. It was established and founded by Aditi Olemann, Ganesh Suryanarayanan, and Gopichand Katragadda in January 2019.
The company intends to transform the industry outcomes and human experience by developing AI algorithms on voice, video, and sensor data for top-notch devices. The team in Myelin Foundry has an expert team in producing deep learning structure with applications in Media & Entertainment, National Security and Health and Wellness.
Words from the CEO –
“We are excited to welcome Beyond Next Ventures as an investor. Myelin has developed globally leading products and capability 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 chief executive officer, Myelin.
“This investment by Japanese VC firm Beyond Next Ventures will allow Myelin to strengthen its portfolio of AI solutions and grow its market.” – he added.
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