TrueFoundry, a pioneering platform dedicated to the deployment and scaling of artificial intelligence (AI) applications, has successfully secured $19 million in its Series A funding round. This significant investment was led by Intel Capital, with participation from existing investors, including Eniac Ventures and Peak XV’s Surge as well as new investors, such as Jump Capital and several angel investors, including Gokul Rajaram and Mohit Aron.
PC: MarcaMoney
Based in Bengaluru and San Francisco, TrueFoundry wants to transform how businesses build and deploy AI applications. This new funding will help it drive the mission forward, creating a universal platform that helps eliminate the infrastructure challenges many enterprises face when trying to implement AI solutions.
According to Nikunj Bajaj, CEO and co-founder at TrueFoundry, the efficiency of the platform lies in how the companies who are using it can actually develop their internal AI platforms in just two months’ time and deliver ROI in only four months’ time. It’s starkly contrasting from industry average that achieves ROI after a long time period of about 14 months. So, in light of these excellent metrics, TrueFoundry is set to highly simplify the AI implementation for its clients.
The platform, therefore, streamlines ML training and deployment. It enables enterprises to effectively manage their AI applications while partnering with some of the world’s leading companies like Games 24×7 and Whatfix. Through the platform’s integration capabilities, TrueFoundry will work effectively with multiple clouds, models, and frameworks, avoiding vendor lock-in and preparing these deployments for upcoming AI trends, such as Retrieval-Augmented Generation and AI Agents.
This funding round marks a continuation of TrueFoundry’s impressive growth trajectory, which includes a fourfold increase in customer acquisitions year-over-year and the deployment of over 1,000 ML clusters. Moreover, the company has established partnerships with global leaders such as Siemens Healthineers, ResMed, Automation Anywhere, and NVIDIA, further cementing its position in the competitive AI landscape.
The new funding will also enable important growth initiatives such as expanding the team and strengthening go-to-market strategies that help drive customer acquisition and business expansion. With robust financial backing and a clear vision for the future, TrueFoundry is positioned to enhance its offerings, enabling businesses to utilize AI to its fullest potential.
With the demand for AI solutions continuing to rise, TrueFoundry is well-positioned to be at the forefront of this technological revolution, providing businesses with the tools they need to thrive in an increasingly digital world.
