ASM Technologies said that its board approved the investment proposal to acquire an aggregate 20% stake in the startup
Myelin Foundry provides AI solutions for edge devices for the media and entertainment and automotive sectors
The partnership will integrate Myelin’s edge-first AI stack directly into ASM’s engineering design-led manufacturing portfolio
AI startup Myelin Foundry
is raising ₹48 Cr (around $5.3 Mn) from listed digital services provider ASM Technologies.
In an exchange filing, ASM Technologies said that its board approved the investment proposal to acquire an aggregate 20% stake in the startup. The agreement is expected to be completed in 12 months.
Founded in 2019 by Dr Gopichand Katragadda and Ganesh Suryanarayanan, Myelin Foundry provides AI solutions for edge devices for the media and entertainment and automotive sectors. The startup’s solutions offer real-time analytics and insights based on a variety of data, including, audio, video and sensor data.
For context, edge devices are physical devices that collect and process data locally, near where the data is generated, instead of sending it to a distant cloud server.
The following are the Bengaluru-based startup’s core products:
- XAIRA – An agentic AI assistant built for conversations
- P.I.E. – An AI suite designed for in-car protection, information, and entertainment
- INSPECT AI – An AI-powered system for detecting surface defects like dents, cracks, paint issues, and wear
- Upscaler AI – A product for the media and entertainment industry to enhance SD to HD/FHD in real-time on devices, which cuts streaming costs by 40% and delivers premium-quality video
- LIP-SYNC AI – Using generative AI, it perfects dubbed content by syncing lip movements to audio in multiple languages.
ASM said that the partnership will integrate Myelin’s edge-first AI stack, specialising in predictive intelligence and multimodal analytics, directly into its engineering design-led manufacturing portfolio. This will help bridge the gap between AI and the factory floor.
“This will address evolving industry requirements across semiconductor, electronics, solar and engineering, where real-time operational intelligence and equipment reliability are increasingly critical,” it said in a statement.
Myelin Foundry previously partnered with Mahindra & Mahindra to bring AI to in-vehicle experiences in the automobile maker’s new lineup of cars.
Prior to this, Myelin Foundry raised more than $8 Mn from investors like Visteon Corporation, SIDBI Venture Capital, Endiya Partners, Beyond Next Ventures, Pratithi Investment Trust and Subh Labh.
The funding announcement comes amid the ongoing ‘India AI Impact Summit 2026’, which has seen investment commitments worth thousands of crores for Indian AI startups and the broader ecosystem.