Investing in Myelin Foundry as a lead investor
We are pleased to announce that we have invested in Myelin Foundry in Bangalore, India as a lead investor.
In addition to us, Endiya Partners and others will underwrite a third party allocation of new shares, resulting in a pre-series A funding round totaling approximately $1 million.
Myelin Foundry is a deep tech startup that transforms people’s experiences and businesses by building AI algorithms based on video, voice, and sensor data and integrating them into edge devices.
Myelin’s product, Fovea Stream, enables HD viewing experiences over SD transmissions. Myelin has been recognized in the NetApp Excellerator Cohort 6 acceleration program with “NASSCOM Emerge 50″ (Enterprise category) and ” Investor’s choice” award.
With this funding, Myelin aims to further strengthen their products and expand their reach not only into the Indian video streaming market but also into international markets.
“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.
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