Home » US business news • World Business & Employment News » Meta alumni’s startup TrueFoundry raises $2.3 million to accelerate machine learning

Meta alumni’s startup TrueFoundry raises $2.3 million to accelerate machine learning

By Nagasunder in US business news, posted September 20, 2022

A group of former Meta engineers is developing a platform to help enterprises deploy machine learning models at the rate of large tech firms.

TrueFoundry, their startup, has raised $2.3 million in a funding round.

The startup, based in San Francisco, California, automates repetitive tasks in the machine learning pipeline, allowing data scientists and engineers to focus on higher-value, more creative tasks.

The custom platform is built on Kubernetes a cloud-agnostic solution that can be deployed on Amazon Web Services (AWS), Google Cloud, and Microsoft Azure.

TrueFoundry says it helps machine learning teams get 10 times faster results.

This is said to cut their production timelines from “several weeks to a few hours", which would be helpful to businesses without big machine learning teams.

Unlike the traditional method, which takes a long time, TrueFoundry claims that machine learning developer using its platform can put their models into production as hosted endpoints with auto-scaling in less than five minutes and monitor results from the start.

TrueFoundry co-founder and CEO Nikunj Bajaj told TechCrunch that some key learnings from Meta have helped the startup solve machine learning deployment problems.

TrueFoundry sees Amazon, Google, and Microsoft Azure as key competitors because they all have native machine learning platforms.

TrueFoundry serves customers with small data scientist teams in industries such as fintech, e-commerce, financial services, healthcare, and retail.

TrueFoundry, which has 16 employees and is primarily based in India, announced on Tuesday that it has raised $2.3 million in a round led by Sequoia India's Surge.

Need Career Advice? Get employment skills advice at all levels of your career

Eniac Ventures and angels such as AngelList co-founder Naval Ravikant, Deutsche Bank Global CIO Dilip Khandelwal, GitHub India head Maneesh Sharma, Greenhouse Software CTO Mike Boufford, and Kaggle founder Anthony Goldbloom also participated in the funding.

The startup, which plans to use the new funds to expand its platform and hire more people, recently opened early access to its platform and is working with companies as beta customers. Gutgutia anticipates a public launch within the next one or two months.

It is also looking for advisors to help promote and expand the platform's reach.

Source: TechCrunch

Follow us on YouTube, Twitter, LinkedIn, and Facebook.