AI startup Myelin Foundry raises $4 mn in round led by SIDBI Venture Cap

Artificial intelligence (AI) startup Myelin Foundry said on Wednesday it had made equity fundraising of $4 million led by SIDBI Venture Capital Ltd (SVCL) and supported by existing investors.

Myelin said it will use the money to expand in international markets and strengthen its AI platforms that provide real-time video and audio experience. The company’s customers include automotive and over-the-top players “eager to leverage AI’s power in their automotive and customer devices”.