TrueFoundry is a startup run by a group of former META engineers who helped companies deploy AI systems at scale and raised $19 million in new investments led by Intel Capital.
After the launch of ChatGPT in November 2022, with the advent of Genai, companies of all sizes are considering ways to embrace AI. However, genai relies on large language models to provide intelligence (reading efficiency) and demands critical computational power. Not all companies have the advantage of accessing hundreds or thousands of GPUs, and GPU optimization is essential. Additionally, companies need to experiment with multiple models to find the best one for their use cases and fine-tune existing models to relate AI systems to operations.
TrueFoundry addresses all of this using software available on a platform-as-a-service model targeting full-stack data scientists. It offers features such as autoscaling, proactive maintenance, centralized access control, and real-time monitoring to simplify end-to-end AI deployments.
Founded in June 2021 by former meta-engineers Nikunj Bajaj and Abhishek Choudhary by IIT Kharagpur batchmate Anuraag Gutgutia, TrueFoundry, originally cross-cloud to speed up the deployment of machine learning. Native software was provided. However, as Genai became mainstream in 2023, startups changed their systems to support Genai's capabilities.
“In the past, data scientists only worked with models and experimented, but many deployments were handed over to ML engineers. In our system, what we are able to do is to data scientists. “It's something that you can actually build this whole complex system and test it on a large scale before handing it over to the platform team for final deployment,” Gutgutia said in an exclusive interview.
Startups provide a software solution called Autopilot Systems that helps them scale AI applications by using AI to examine logs and metrics, adjust GPU usage, and modify memory requirements.
Using the autopilot system, Gutgutia managed 10 million requests per second to TechCrunch, one of TrueFoundry's customers with a small team of two.
TrueFoundry co-founders Abhishek Choudhary, Anuraag Gutgutia, and Nikunj Bajaj (left to right) Image credit: TrueFoundry
TrueFoundry currently has 30 paid customers worldwide, with “many” users accessing the open source RAG framework for experimentation. Of these customers, GPU giant Nvidia uses software to build and deploy agents that optimize GPU clusters. Med-Tech Company Resmed uses the provisions of TrueFoundry to develop an internal AI platform. Similarly, Siemens Healthineers, Automation Anywhere, Games24X7, and WhatFix are among our customers.
The startup has used Kubernetes to architect its software. This makes it multi-cloud ready and compatible with all major cloud platforms, including AWS, Google Cloud Platform, Azure and more. Additionally, businesses can natively deploy their platforms on-premises.
Companies using TrueFoundry built and launched internal AI platforms in two months, achieving ROI in four months, unlike the 14-month industry average. Gutgutia offers customers with cost savings of around 40-50% on infrastructure spending, with 10x deployment speeds, whether they're working on agents, RAG, complex deep learning models, or finer details He added that he provided customers along with improvements. Adjustment model.
Cloud vendors have started offering their own software that makes building and deploying AI models like Amazon's Sagemaker and Google Cloud's Vertex. Nevertheless, Gutgutia has yet to address TechCrunch, and TrueFoundry's solution will help cloud providers “accelerate calculation use”, speeding up market time for AI apps and reduce overall costs, so it is still appropriate He said that.
The All-Equity Series A round saw participation from ENIAC Ventures, Peak XV Partners, Jump Capital, and angel investors such as Gokul Rajaram, Mohit Aron and Cyan Bainster.
Startups will leverage their funds to expand their teams from 45 members in India to positions in the US market, including sales, customer success and product marketing roles. It also plans to invest in partnerships with cloud vendors in particular, and is listed on major cloud marketplaces starting with the AWS Marketplace.
Additionally, TrueFoundry aims to launch AI agents that help to suggest the right resources and enable autoscaling.
With the new funding, TrueFoundry has raised over $21 million in total. This includes the September 2022 seed round led by Peak XV (then Sequoia India) Surge.
The startup quadrupled its customer base last year and deployed over 1,000 clusters to clients for ML workloads. Gutgutia also told TechCrunch that it is “$1.5 million north” and is about to double it this year.