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Amidst a $4 million investment round, the CEO of Myelin Foundry reveals their plan for worldwide development

Myelin Foundry, a pioneering AI-driven deeptech startup, has just secured a substantial $4 million in equity funding, spearheaded by SIDBI Venture Capital. This round saw continued support from existing investors Endiya Partners, Pratithi Investment Trust, and Subh Labh, showcasing ongoing confidence in the company’s vision and trajectory.

CEO and founder Gopichand Katragadda underscored the pivotal role this funding will play in propelling Myelin Foundry towards both local and global expansion endeavors. Notably, a significant portion of the investment will fuel the company’s foray into the US market, a strategic move considering the considerable portion of their clientele originating from the US.

With co-founder Ganesh Suryanarayanan’s relocation to the US, Myelin Foundry aims to fortify its presence in the region, laying the groundwork for amplified growth opportunities. Katragadda highlighted the company’s existing foothold in the US market and outlined plans to leverage this presence to scale up revenues on a global scale, with a keen focus on the Asia-Pacific region as well.

In parallel developments within the tech startup landscape, Knit, a unified API platform revolutionizing integrations for SaaS companies, has secured $1 million in seed funding, led by Endiya Partners, alongside contributions from Axilor Ventures and Angel Investors. This injection of capital will be instrumental in bolstering product capabilities, integrating cutting-edge gen AI technologies, and spearheading global expansion initiatives.

Meanwhile, Plane, an innovative open-source project management platform, has successfully raised $4 million in seed funding from OSS Capital. This infusion of capital will empower Plane to foster community growth and solidify its competitive stance within the enterprise segment. Founded in 2022 and with headquarters spanning Delaware and India, Plane is poised for transformative growth under the leadership of co-founder and CEO Vamsi Kurama.

These developments underscore the dynamic landscape of the tech startup ecosystem, marked by a relentless pursuit of innovation, strategic investment, and a shared vision for scalable global impact.

Sadhna B

Sadhna B

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