A machine learning (ML) developer named Startup TrueFoundry has secured $2.3 million in seed funding from Southeast Asia’s Surge and Sequoia India. Eniac Ventures and angel investor Naval Ravikant were additional participants in the round.
Here is the particial list of participants
Eniac Ventures
AngelList Co-founder Naval Ravikant
Deutsche Bank Global CIO Dilip Khandelwal
Head of GitHub India Maneesh Sharma
Greenhouse Software CTO Mike Boufford and
Kaggle Founder Anthony Goldbloom amongst others.
Where Funds will be used?
The additional infusion of funds will be utilised to strengthen and grow its specialised technological staff and advance product development.
Here are the excerpts from their official blog about the new funding round.
TrueFoundry was born out of the idea that no business – big or small – should miss out on the opportunities of machine learning. With our automated platform, data scientists and engineers are able to deploy machine learning models at the speed and maturity of big tech, cutting their production timelines from several weeks to a few hours.
Data is the new oil and we want to enable companies to use machine learning faster and generate greater business value. We aim to automate repetitive tasks in the ML pipeline such as infrastructure and deployments so data scientists and ML engineers can focus on higher-value, more creative tasks.
This enables businesses to continuously upgrade existing models and release new ones to gain a competitive edge.