AI deployment platform TrueFoundry has raised $19 million in Series A funding, led by Intel Capital. The investment aims to support the company’s efforts to assist enterprises in deploying and managing artificial intelligence systems efficiently and at scale.
Expanding Capabilities for AI Deployments
Founded in June 2021 by former Meta engineers Nikunj Bajaj, Abhishek Choudhary, and Anuraag Gutgutia, TrueFoundry initially focused on accelerating machine learning deployments with cross-cloud native solutions.
In response to the rise of Generative AI in 2023, the company expanded its platform to support models requiring substantial computational resources.
TrueFoundry offers a platform-as-a-service solution designed for full-stack data scientists, allowing them to independently build, test, and deploy complex AI systems.
The platform provides features such as auto-scaling, proactive maintenance, centralized access control, and real-time monitoring.
Features and Innovations
One of the platform’s standout features is an autopilot system that optimizes GPU usage and memory allocation by analyzing logs and metrics. Gutgutia highlighted a use case where a customer managed 10 million requests per second with just a two-person team using TrueFoundry’s solution.
Built on Kubernetes, TrueFoundry’s software is multi-cloud compatible, supporting platforms such as AWS, Google Cloud, and Azure. The platform can also be deployed on-premises for organizations with stringent data security requirements.
Diverse Client Base
TrueFoundry’s global customer base includes major players such as NVIDIA, Siemens Healthineers, Automation Anywhere, Resmed, Games24x7, and Whatfix. NVIDIA utilizes the platform to optimize its GPU clusters, while med-tech company Resmed leverages it for internal AI development.
The company also provides an open-source Retrieval-Augmented Generation (RAG) framework for experimentation, which has gained interest across industries.
Growth Metrics and Performance
TrueFoundry has achieved notable growth.
- Customer Expansion: Quadrupled its customer base over the past year.
- Cluster Deployments: Deployed over 1,000 clusters for machine learning workloads.
- Efficiency Gains: Delivered 40-50% cost reductions in infrastructure expenses and a tenfold improvement in deployment speed.
- Faster ROI: Reduced the time to build internal AI platforms from 14 months to just two months.
Competitive Positioning
Despite competition from cloud-native solutions like AWS Sagemaker and Google Cloud Vertex, TrueFoundry positions itself as a complementary platform that accelerates compute usage while reducing costs and time-to-market for AI applications.
Leadership and New Board Member
The funding round included participation from investors such as Eniac Ventures, Peak XV Partners, Jump Capital, and angel investors Gokul Rajaram and Mohit Aron. With the latest funding, TrueFoundry has raised over $21 million to date.
Avi Bharadwaj, Investment Director at Intel Capital, joins the company’s board of directors, highlighting TrueFoundry’s role in addressing challenges related to AI deployment, including cost efficiency and governance.
Addressing AI Deployment Challenges
TrueFoundry helps enterprises navigate key issues like governance, data privacy, and infrastructure costs associated with GPU orchestration and model scaling.
The platform supports businesses in future-proofing their AI operations for trends like Retrieval-Augmented Generative Models and AI Agents.
Vision for AI Automation
Looking ahead, TrueFoundry plans to further automate AI operations with the development of an AI agent designed to suggest optimal resource allocation, enable auto-scaling, and assist with troubleshooting.
The company is also expanding its 45-member team in India and the U.S., focusing on sales, customer success, and product marketing.
With an annual recurring revenue (ARR) of over $1.5 million, TrueFoundry aims to double its ARR in the near future while continuing its mission to simplify AI deployments for enterprises worldwide.
