TrueFoundry Startup, Raised $2.3 Million In Seed Fund 

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TrueFoundry Startup,  Raised $2.3 Million In Seed Fund 
22 Sep 2022
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News Synopsis

Yesterday, the TrueFoundry machine learning developer platform raised $2.3 million in seed fund. Southeast Asia's Surge programme and Sequoia India lead the funding round. Other investors in the round included Eniac Ventures and well-known angels like Naval Ravikant, co-founder of AngelList. Other angel investors in the company include the CIO of Deutsche Bank Global Dilip Khandelwal, Maneesh Sharma, CEO of GitHub India, Mike Boufford, CTO of Greenhouse Software, and Anthony Goldbloom, founder of Kaggle.

The investment will be used by TrueFoundry to grow its highly skilled technological team and product development. According to Nikunj Bajaj, co-founder, and CEO of TrueFoundry, “Data is the new oil, and we want to enable companies to use machine learning faster and generate greater business value. Our investors and team share the belief that TrueFoundry is paving the way for innovation that will propel businesses for the future ahead, and their participation in our pre-launch funding is a great testament to that,” 

The platform's goal is to automate routine ML pipeline chores like infrastructure and deployments so that data scientists and ML engineers may concentrate on more valuable and innovative projects. As a result, companies may continuously improve current models and roll out new ones to acquire a competitive advantage.

Abhishek Choudhary, Anuraag Gutgutia, and Nikunj Bajaj, all skilled software and ML experts, formed the USA-based TrueFoundry in June 2021. In their previous position at Facebook, they also developed and scaled substantial engineering systems to promote product excellence.

Despite the enormous benefits that machine learning presents for organisations, the creation and implementation of ML models is a labor-intensive and difficult process for software developers, ML engineers, and data scientists.

TWN Special