TrueFoundry Raises $19 Million from Intel Capital for AI Platform

New Delhi, Feb 6 (PTI) AI startup TrueFoundry has raised USD 19 million in an early business stage funding round led by Intel Capital.

Existing investors Eniac Ventures and Peak XV's Surge (formerly Sequoia Capital India and South East Asia) also participated alongside new investor Jump Capital.

Several angel investors including Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000s also participated in the funding round.

"TrueFoundry, a leading AI deployment and scaling platform...raised USD 19 million in Series A funding led by Intel Capital," the statement said.

In conjunction with the financing, Avi Bharadwaj, Investment Director at Intel Capital, will join TrueFoundry's board of directors, the statement said.

Based out of San Francisco, TrueFoundry operates in India with a cloud-native platform that streamlines machine learning (ML) training and deployment, empowering enterprises to manage AI applications efficiently.

Its platform enables rapid model deployment -- often within minutes -- drastically reducing the time and resources traditionally needed for such processes.

"The Series A funding – which brings the company's total financing to USD 21 million – will allow TrueFoundry to accelerate its mission toward building a universal platform to build and deploy AI applications with zero infrastructure hassles. It fuels growth in key areas, including team expansion and go-to-market efforts to drive customer acquisition and expansion," the statement said.