Watching movies and TV series online has become a staple in people’s post-Covid-19 lifestyles. Watching these shows in high definition would make this experience even better.
But not everyone has the luxury of quick internet speeds, and over-the-top media firms – even those such as Netflix and Amazon’s Prime Video – have slowed down the speed of their streams to keep up with the massive surge in viewership brought on by pandemic.
This is where Myelin Foundry, a deep tech artificial intelligence startup from India, steps in.
Established in 2019, Myelin Foundry develops AI algorithms on video, voice, and sensor data to transform media experiences and industry outcomes. Its first product, Fovea Streams, helps people experience high-definition viewing with standard-definition transmission.
Now the company has raised US$1 million in pre-series A funding to help consolidate its products in the Indian video-streaming market and expand globally. The round was led by Japanese VC firm Beyond Next Ventures and saw participation from Endiya Partners, which previously invested in Myelin Foundry as part of the AI company’s US$1 million seed round.
“We look forward to partnering with Beyond Next Ventures and accessing the Japanese ecosystem. I am also happy to see the confidence of our seed round investors as they continue to support our journey,” said Gopichand Katragadda, founder and CEO of Myelin.
Before this round, the Bangalore-based company last raised funding in June 2020 last year, attracting the support of Pratithi – the family office of Axilor Ventures chairman and Infosys co-founder Kris Gopalakrishnan.
The “investment by Japanese VC firm Beyond Next Ventures will allow Myelin to strengthen its portfolio of AI solutions and grow its market,” said Gopalakrishnan.
The Myelin team has expertise in creating products out of deep learning frameworks, including those in generative adversarial networks and convolutional neural network, with applications in media and entertainment, health and wellness, and national security.
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