ASM Technologies to Invest Rs. 48 Crores in Myelin Foundry for Edge AI Solutions

ASM Technologies Ltd. has approved a proposed investment of Rs. 48 Crores in Myelin Foundry Private Limited. Myelin Foundry is a deep-tech AI company that specializes in predictive intelligence and multimodal analytics. The partnership aims to integrate Myelin’s 'edge-first' AI stack into ASM’s engineering design led manufacturing portfolio, focusing on predictive maintenance, multimodal analytics, AI-augmented operations, sustainability, and efficiency. The investment is expected to be completed in 12 months. Myelin Foundry, incorporated in India in 2019, has a strong financial history and key milestones including seed and early-stage funding rounds, a Series A funding round led by Visteon Corporation in 2023, and an equity fundraising of approximately USD 4 million led by SIDBI Venture Capital Limited in 2024. Myelin Inc., a wholly-owned subsidiary in the United States, supports Myelin Foundry's global AI product business.