TrueFoundry, a machine learning (ML) developer platform, has secured $2.3m seed funding led by Sequoia India and Southeast Asia’s Surge.
Other participating investors include Eniac Ventures, AngelList co-founder Naval Ravikant, Deutsche Bank Global CIO Dilip Khandelwal, Head of GitHub India Maneesh Sharma, Greenhouse Software CTO Mike Boufford, and Kaggle Founder Anthony Goldbloom.
The new funding will be used to expand TrueFoundry’s specialised technology team and further product development.
TrueFoundry, based in the US, was founded in June 2021 by Abhishek Choudhary, Anuraag Gutgutia and Nikunj Bajaj. During their time at Facebook, they recognised that smaller companies in the market required a significantly longer time to build and deploy ML models than big techs.
This led to the founding of TrueFoundry, which automates repetitive tasks in the ML pipeline to accelerate ML deployment and live endpoint monitoring.
ML offers immense business opportunities, yet the development and launch of ML models is a time-intensive and complex process for software engineers, 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. About 30 per cent have to be reverted due to scaling and latency issues often overlooked during the data training stage.
While large companies can bridge this gap by deploying large, high-end ML platform teams to design and launch ML models, it is less feasible for smaller companies and startups to commit such high investments while building their companies.
TrueFoundry aims to transform the process by automating parts in the ML pipeline that can be automated and empowering ML developers to test and launch models in production quickly and with as much autonomy as possible.
To schedule a demo with TrueFoundry, visit https://www.truefoundry.com/book-demo.