VC Fund Investments
AI deployment platform Truefoundry raises $19-M from Intel Capital, Peak XV’ Surge, others
San Francisco, CA (USA)- and Bangalore- based machine learning (ML) and artificial intelligence (AI) deployment and scaling platform TrueFoundry has raised USD 19 million in Series A funding led by Intel Capital, with participation from existing investors Eniac Ventures and India focused Peak XV Partners (via its Surge fund). New investor Jump Capital also joined the round, alongside angel investors including Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000 companies.The Series A funding round brings TrueFoundry’s total funding to USD 21 million.The company will use the fresh capital to build a universal platform to build and deploy AI applications without infrastructure hassles, along with team expansion and go-to-market efforts to drive customer acquisition.The startup is claimed to offer a cloud-native platform that simplifies machine learning (ML) training and deployment, enabling enterprises to manage AI applications efficiently. The platform allows for rapid model deployment and optimises infrastructure usage. The company counts businesses like Games24x7 and Whatfix among its customers.
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