TrueFoundry Raises $2.3 Million In Seed Round

Updated on: 21 September 2022 10:53 pm

Rahul Khanna, co-founder and managing partner of Trifecta Capital will co-chair the newly appointed council for the industry body for alternative assets

Sequoia India’s Rajan Anandan to head Indian Venture & Alternate Capital Association as VC Council Photo: Rahul Khanna, co-founder and managing partner of Trifecta Capital will co-chair the newly appointed council for the industry body for alternative assets

Machine learning startup TrueFoundry has raised $2.3 million in its seed round led by Sequoia India and Southeast Asia’s Surge. Other investors in the round included Eniac Ventures and Naval Ravikant, an angel investor.

According to TrueFoundry, the proceeds will be used in hiring tech talent and also in product development.

TrueFoundry provides tools for startups and small businesses to deploy and monitor machine learning models at the speed of big tech companies like Alphabet and Meta.

Follow our WhatsApp channel

The development and launch of ML models is a time-intensive and complex process for software engineers and data scientists. As a result, almost 90 per cent of ML models do not end up in production. For the models that make it to deployment, 50 per cent fail due to the absence of monitoring systems and 30 per cent have to be reverted due to scaling and latency, said the statement.

TrueFoundry, which has its headquarters in the US, has Amazon Web Services (AWS), Google Cloud and Tensorflow as clients and claims to enable ML teams to be ten times faster.

Other angel investors in the firm include Deutsche Bank Global CIO Dilip Khandelwal, Head of GitHub India Maneesh Sharma, Greenhouse Software CTO Mike Boufford, and Kaggle founder Anthony Goldbloom.

Last month, Sequoia’s Surge selected 15 startups for its seventh cohort. TrueFoundry is a part of the latest program.

TrueFoundry, which has its headquarters in the US, has Amazon Web Services (AWS), Google Cloud and Tensorflow as clients and claims to enable ML teams to be ten times faster.

Other angel investors in the firm include Deutsche Bank Global CIO Dilip Khandelwal, Head of GitHub India Maneesh Sharma, Greenhouse Software CTO Mike Boufford, and Kaggle founder Anthony Goldbloom.