AI startup Myelin Foundry is raising ₹48 Cr (around $5.3 Mn) from listed digital services provider ASM Technologies. In an exchange filing, ASM Technologies said that its board approved the investment proposal to acquire an aggregate 20% stake in the startup. The agreement is expected to be completed in 12 months. Founded in 2019 by Dr Gopichand Katragadda and Ganesh Suryanarayanan, Myelin Foundry provides AI solutions for edge devices for the media and entertainment and automotive sectors. The startup’s solutions offer real-time analytics and insights based on a variety of data, including, audio, video and sensor data. For context, edge devices are physical devices that collect and process data locally, near where the data is generated, instead of sending it to a distant cloud server. The following are the Bengaluru-based startup’s core products: XAIRA – An agentic AI assistant built for conversations P.I.E. – An AI suite designed for in-car protection, information, and entertainment INSPECT AI – An AI-powered system for detecting surface defects like dents, cracks, paint issues, and wear Upscaler AI – A product for the media and entertainment industry to enhance SD to HD/FHD in real-time on devices, which cuts streaming costs by 40% and delivers premium-quality… Read MoreInc42 Media
