With machine learning gaining increased prominence in enterprise tech development, specially post Covid, it generally becomes difficult for managers to see an entire ML deployment, for all initiated projects. Development and launch of ML models is a time-intensive and complex process for software engineers, ML engineers and data scientists. As a result, almost 90% of ML models do not end up in production. For the models that make it to deployment, 50% fail due to absence of monitoring systems and 30% have to be reverted due to scaling and latency issues.
TrueFoundry, a machine learning (ML) developer platform, seems to have found some of the answers to better above statistics, and has now received a US$2.3m seed backing for those answers. The new fundraising round was led by Sequoia India and Southeast Asia’s Surge. Other participating investors include Eniac Ventures and prominent angels like AngelList Co-founder Naval Ravikant. The new funding will be used to expand its specialized technology team and further product development.
Other angel investors include Deutsche Bank Global CIO Dilip Khandelwal, Head of GitHub India Maneesh Sharma, Greenhouse Software CTO Mike Boufford and Kaggle Founder Anthony Goldbloom.
Founded in 2021 by ex-Meta software engineers Abhishek Choudhary, Anuraag Gutgutia and Nikunj Bajaj, TrueFoundry aims to automate repetitive tasks in the ML pipeline such as infrastructure and deployments so data scientists and ML engineers can focus on higher-value, more creative tasks. This enables businesses to continuously upgrade existing models and release new ones to gain a competitive edge.
“TrueFoundry was born out of the idea that no business – big or small – should miss out on the opportunities of machine learning. With our automated platform, data scientists and engineers are able to deploy machine learning models at the speed and maturity of big tech, cutting their production timelines from several weeks to a few hours.” said Bajaj, Co-Founder and CEO of TrueFoundry.
While it is relatively easier for large companies to bridge their ML conception to deployment gaps by employing large, high-end ML platform teams, it is clearly a task that startups and smaller companies do not have the resource and bandwidth to spend on. That is the market TrueFoundry is looking to tap.
TrueFoundry is platform agnostic and easily integrates with your existing stack for seamless implementation. ML developers need less than five minutes to put models into production as hosted endpoints along with auto-scaling and monitoring dashboards are automatically available from the get-go.