Intel Capital led a $19 million Series A investment round for the AI deployment and scaling platform TrueFoundry. Along with new investor Jump Capital and a number of angel investors, including Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000 firms, the group also included existing investors Eniac Ventures and Peak XV's Surge.

The board of directors of TrueFoundry will include Avi Bharadwaj, the investment director at Intel Capital.

In September 2022, the firm, which is based in Bengaluru and San Francisco, raised $2.3 million in its seed round, which was led by Surge from Peak XV.

According to a press release from the firm, the new fundraising round will help TrueFoundry further its goal of developing a global platform for developing and implementing AI applications without facing infrastructure issues. Additionally, the investment will support important growth efforts like team development and improved go-to-market tactics to boost client acquisition and business growth.

"Enterprises using TrueFoundry have built and launched their internal AI platforms in as little as two months, achieving ROI within four months–a stark contrast to the industry average of 14 months. Our platform integrates seamlessly across clouds, models, and frameworks, ensuring no vendor lock-in while future-proofing deployments for evolving AI patterns like RAGs and Agents”, says Nikunj Bajaj, Co-Founder & CEO, TrueFoundry.

Recently, Babynama, a digital pediatric care platform, has successfully raised $700,000 in its seed funding round. The investment was led by Good Capital, with participation from Amplify and a group of angel investors, including founders from prominent companies like Fashinza, Bicycle Health, and Avanti , as well as the Former COO of BharatPe and other members of the IIT Bombay network.