AI startup Myelin Foundry has secured ₹48 Cr (approximately $5.3 Mn) in funding from ASM Technologies, a listed digital services provider. This investment will see ASM Technologies acquire a 20% stake in Myelin Foundry, with the agreement set to be finalized within 12 months.
Founded in 2019 by Dr. Gopichand Katragadda and Ganesh Suryanarayanan, Myelin Foundry specializes in providing edge-based AI solutions for the media, entertainment, and automotive sectors. Their solutions focus on delivering real-time analytics and insights using various data types such as audio, video, and sensor data.
Myelin Foundry’s core products include XAIRA, an AI assistant for conversations; P.I.E., an AI suite for in-car protection, information, and entertainment; INSPECT AI, a system for detecting surface defects; Upscaler AI for enhancing video quality; and LIP-SYNC AI for syncing lip movements with audio in dubbed content.
ASM Technologies highlighted that this partnership will involve integrating Myelin’s edge-first AI stack, known for predictive intelligence and multimodal analytics, directly into ASM’s engineering design-led manufacturing portfolio. This move is expected to enhance ASM’s capabilities in leveraging AI for their operations.
Source: Inc42 Media