• TrueFoundry raised $19M in a Series A round led by Intel Capital, with participation from Eniac Ventures, Peak XV’s Surge, and others.
  • The startup saw 4X YoY growth in its customer base in 2024 and partnered with companies like Siemens Healthineers, Resmed, and NVIDIA.

Platform-as-a-Service (PaaS) startup TrueFoundry has secured $19 million (INR 166.50 Cr) in a Series A funding round led by Intel Capital, the investment arm of Intel. Existing investors, Eniac Ventures and Peak XV’s Surge, also participated, doubling down on their previous investments.

Additionally, new investors such as Jump Capital and angel investors Gokul Rajaram, Mohit Aron, and Cyan Banister joined the round. As part of the investment, Avi Bharadwaj, investment director at Intel Capital, has joined TrueFoundry’s board of directors.

With the fresh capital, TrueFoundry aims to accelerate the development of its universal AI platform, designed to build and deploy AI applications with zero infrastructure hassles. The funds will also be used to expand the company’s team and enhance go-to-market efforts to drive customer acquisition and business growth.

Founded in 2021 by Nikunj Bajaj, Abhishek Choudhary, and Anuraag Gutgutia, TrueFoundry simplifies the process of deploying and managing machine learning (ML) models in production. The startup’s AI Agent automates enterprise workflows, helping businesses achieve 10X faster value, reduce infrastructure costs, and scale with smaller teams.

“At TrueFoundry, we’re building a future where AI manages AI—removing the bottlenecks of human intervention and unlocking unparalleled speed and scale,” said CTO and co-founder Abhishek Choudhary.

Since raising $2.3 million in its seed round in September 2022, TrueFoundry has experienced 4X year-over-year growth in its customer base and partnered with major companies like Siemens Healthineers, Resmed, Automation Anywhere, Games 24×7, and NVIDIA.

The investment comes at a time when India is making significant strides in AI. The government recently announced plans to establish a Centre of Excellence in AI for education and develop its own foundational AI model within the next 10 months, backed by 18,000 high-end GPU-based compute facilities.

Edited by Harshajit Sarmah