Artificial intelligence startups Truefoundry and Cognida.ai have bagged investments in separate Series A funding rounds as investors bet on growing demand for AI adoption in enterprises.
Truefoundry, an enterprise platform for machine learning and AI, has secured $19 million in a Series A round led by chipmaker Intel's investment arm, Intel Capital. Existing investors including Peak XV's Surge also participated in the round.
The California-based startup, which also has an office in Bengaluru, said the round saw participation from existing New York-based investor Eniac Ventures and new investor Jump Capital. Several angel investors including Gokul Rajaram, Mohit Aron, Cyan Banister and executives from various Fortune 1,000 companies joined the round.
The round comes roughly two-and-a-half years after the startup secured $2.3 million in seed funding led by erstwhile Sequoia Capital India and Southeast Asia's early-stage platform Surge, with participation from Eniac Ventures and Wellfound co-founder Naval Ravikant.
With the latest round of financing, the startup has raised $21 million in a mix of venture and angel funding to date.
The fresh funding will enable Truefoundry in developing a universal platform to build and deploy AI applications with zero infrastructure hassles and enable the expansion of its team and double down its customer acquisition efforts, it said in a statement.
Founded by Abhishek Choudhary, Anuraag Gutgutia and Nikunj Bajaj in 2021, TrueFoundry operates a cloud-native platform which streamlines machine learning training and deployment for enterprises, helping them manage AI applications efficiently and deploy models in minutes.
It counts Siemens Healthineers, Resmed, Automation Anywhere, Games 24x7, and NVIDIA among its customers and claims that its customer base has quadrupled on a year-on-year basis.
Cognida.ai, which provides AI solutions to enterprises, has raised $15 million in a Series A funding round led by early-stage venture capital firm Nexus Venture Partners.
Cognida Inc, which operates Cognida.ai, said the investment will fuel its expansion of AI solution library across key industries, advance the development of its Zunō agentic AI platform, scale the business, increase the size of its AI implementation teams, and broaden customer base.
“We are impressed with Cognida.ai’s strong traction and innovative approach with a clear focus on practical AI solutions," said Anup Gupta, managing director at Nexus. “Their success with enterprise clients showcases an ability to deliver real impact," Gupta added.
The startup, which is headquartered in Chicago and has offices in California and Hyderabad, claims that its platform reduces AI implementation time from eight months to just 12 weeks. It was founded by Feroze Mohammed, Gopalakrishna Kuppuswamy, and Pavan Tadepalli.
The company, founded in 2021, had raised $4.7 million in seed round from several angel investors including, Ashish Gupta, Raju Reddy among others.
LegUp
LegUp, a digital platform providing caregiving and companion services, has raised pre-seed funding of Rs 2 crore (about $229,000) from investment firm Bluebridge Capital Pvt Ltd.
This is the company’s first funding round since its founding in 2024, the Bengaluru-based startup said.
The company, founded by Jerin Mathew and Mahesh Narayanan MS, said the capital raised will bolster its technology and operational capabilities and propel growth.