TrueFoundry, a cutting-edge AI deployment and scaling platform, has successfully raised $19 million in Series A funding.
The round was led by Intel Capital, with participation from prominent investors including Eniac Ventures, Peak XV’s Surge, Jump Capital, and several angel investors, such as Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000 companies. Avi Bharadwaj, Investment Director at Intel Capital, will join the company’s board of directors as part of the investment deal.
The Bengaluru and San Francisco-based startup had previously secured $2.3 million in a seed round led by Peak XV’s Surge in September 2022. With the latest funding, TrueFoundry is poised to accelerate its mission to simplify AI application deployment and scaling across various industries.
TrueFoundry offers an innovative cloud-native platform designed to streamline the process of training and deploying machine learning (ML) models. By removing infrastructure complexities, the platform enables businesses to focus on scaling their AI applications rather than worrying about the technical challenges of managing AI infrastructure.
With this new capital, TrueFoundry plans to enhance its platform, continue improving scalability, and expand its team. The investment will also help the company refine its go-to-market strategies and grow its customer base. The funding follows a year of substantial growth, including a 4X increase in customers, over 1,000 ML clusters deployed, and successful partnerships with companies like Siemens Healthineers, ResMed, Automation Anywhere, and NVIDIA.
TrueFoundry’s platform has been recognized for its ability to quickly enable enterprises to build and launch their internal AI platforms. According to the company, clients using TrueFoundry have achieved impressive results, launching their AI platforms in as little as two months and realizing ROI within four months, a significant improvement compared to the typical 14-month industry timeline.
The platform’s flexibility allows integration with multiple cloud services, models, and frameworks, ensuring that businesses are not locked into a specific vendor and are well-prepared for emerging AI trends such as Retrieval-Augmented Generation (RAG) models and autonomous Agents.
TrueFoundry’s rapid expansion and the strong growth it has seen in the past year underscore its potential to revolutionize AI deployment. The company is positioned to become a critical player in helping enterprises efficiently manage and scale their AI applications, making it easier for organizations of all sizes to adopt AI technology.
“We are excited about the opportunities this funding will bring,” said Nikunj Bajaj, CEO and co-founder of TrueFoundry. “Enterprises are increasingly looking for ways to deploy AI at scale, and our platform enables them to do so quickly and efficiently. This investment will allow us to continue improving our platform and expand our customer base globally.”
With the support of key investors and a strong track record of growth, TrueFoundry is set to continue its trajectory as a leader in AI infrastructure, providing businesses with the tools they need to stay ahead in a rapidly evolving technological landscape