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India Software Tycoon's Family Office Makes AI Bet

Editorial Staff, 12 June 2020


This story is part of our coverage of how family offices invest and the trends in the space. In this case, the FO examines the wealth of Infosys's co-founder.

India-based family office Pratithi, which runs money for Infosys co-founder S Gopalakrishnan, has injected investment into Myelin Foundry, a start-up focused on artificial intelligence. The level of funding wasn’t disclosed.

Myelin Foundry, which was founded in January last year by Gopichand Katragadda, Ganesh Suryanarayanan and Aditi Olemann, had raised $1 million in seed round in September 2019 led by Endiya Partners, according to Outlook India, a local publication. 

"The funds from this round will be used for penetration in over-the-top (OTT) market in India and internationally," a statement reportedly said. (WealthBriefingAsia attempted to locate the statement but was unable to do so. It has contacted Myelin Foundry to confirm the story.)

The story is an example of how family office’s investments in start-ups, technology and other modern sectors are attracting more attention in the business press. This news service works with Highworth Research, a UK-based business tracking the actions of single family offices, and has published several stories examining trends in the sector.

Myelin''s first product in the market, Fovea Stream, is in the media and entertainment space and deploys on edge devices such as mobile phones, the story said. 

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