TrueFoundry raises $2.3 million from Sequoia India's Surge and others

• The US-based machine learning developer platform will use the investment to expand its specialized technology team and product development.
• The round saw participation from Eniac Ventures and AngelList co-founder Naval Ravikant among others.
• The platform aims to automate repetitive tasks in the ML pipeline.

Machine learning developer platform TrueFoundry raised $2.3 million in seed fund today. The investment round was led by Sequoia India and Southeast Asia’s Surge programme.

Eniac Ventures and prominent angels like AngelList co-founder Naval Ravikant were other participants in the round. Its other angel investors include Deutsche Bank Global’s CIO Dilip Khandelwal; head of GitHub India Maneesh Sharma; Greenhouse Software’s CTO Mike Boufford and Kaggle founder Anthony Goldbloom.

TrueFoundry will use the investment to expand its specialized technology team and product development.

“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,” said Nikunj Bajaj, co-founder and CEO of TrueFoundry.

The platform aims 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.

Headquartered in the USA, TrueFoundry was founded in June 2021 by Abhishek Choudhary, Anuraag Gutgutia and Nikunj Bajaj — all of whom are experienced software and ML engineers. They also built and scaled large engineering systems to drive product excellence at Facebook in their earlier stint.

Machine learning offers immense opportunities for businesses, yet the development and launch of ML models is a time-intensive and complex process for software engineers, ML engineers and data scientists.

“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,” Bajaj added.

From Amazon Web Services (AWS), Google Cloud and Tensorflow to Kubernetes, TrueFoundry platform is agnostic and helps integrate with the existing stack for seamless implementation.

The startup claims that with its platform, ML developers need less than five minutes to put models into production — as hosted endpoints along with auto-scaling and monitoring dashboards are automatically available from the get-go.

SEE ALSO:
CBI files chargesheet against Rana Kapoor — The rise and fall of Yes Bank’s former co-founder and CEO
All about Super-Earths, their dwarf stars and how they're more habitable than our earth