TrueFoundry raises $2.3 million in seed round of funding

• ByStartupStory     |    September 20, 2022

The US-based machine learning startup TrueFoundry claims to have raised $2.3 million seed funding round led by Sequoia India and Southeast Asia’s Surge.

Angel List cofounder Naval Ravikant and Eniac Ventures also participated in the funding round. The money that was raised will reportedly be invested in hiring tech talent as well as in product development. 

TrueFoundry was founded in 2021 by former Meta executives Abhishek Choudhary and Nikunj Bajaj, and angel investor Anuraag Gutgutia. 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.

TrueFoundry’s product can be deployed in five minutes by machine learning developers of small businesses and startups, which makes them 10x faster. The company exclaims that developing such machine learning models on their own for small business would take a huge amount of time, money, and effort. This will help the machine learning engineers to pay more attention to higher value and more creative tasks, the company said.

TrueFoundry said that its tools are platform agnostics and can be easily integrated with servers like Amazon Web Services (AWS), Google Cloud, Tensorflow, and Kubernetes. 

“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, who also happens to be the CEO TrueFoundry. “Data is the new oil, and we want to enable companies to use machine learning faster and generate greater business value.”

The startup’s other angel investors include Deutsche Bank Global CIO Dilip Khandelwal, Head of GitHub India Maneesh Sharma, Greenhouse Software CTO Mike Boufford and Kaggle Founder Anthony Goldbloom.

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