Business India ×
  Magazine:
Infotech

Published on: Aug. 26, 2020, 4:54 p.m.
Myelin’s AI products transform visual experiences
  • Suryanarayanan, Katragadda, Olemann: aiming for global first products

By Lancelot Joseph. Executive Editor, Business India

In mid-June 2020, Myelin Foundry Ltd (MFL), a deep tech artificial intelligence (AI) start-up that has raised $1 million in seed round in September 2019 led by Endiya Partners, has now raised further funding from Kris Gopalakrishnan’s family office, Pratithi. The funds from this round – Pratithi – will be used for penetration in the over-the-top (OTT) market in India and internationally. The company is seeing significant traction with large customers and is looking to raise its Series A funding over the next two quarters.

MFL is building edge AI products that transform visual experiences and personalised outcomes on consumer edge devices using proprietary AI algorithms for video, voice, and sensor data. Myelin’s first product in the market, Fovea Stream, is in the media and entertainment space and deploys on edge devices such as mobile phones, to provide the highest quality visual experience at a disruptively low bandwidth consumption for OTT providers and viewers. 

“Myelin is at the leading edge of AI/ML-based solutions. They are creating solutions that will change industries and Pratithi is happy to support the executive leadership of Myelin on this journey,” says Kris Gopalakrishnan.

“We are thrilled to have Kris join us in the exciting journey of developing global first products from India. Kris has been an innovation evangelist and a start-up supporter personally as well as through CII. We look forward to Kris’s guidance as we deploy solutions at the intersection of AI and complex unstructured data for edge devices,” says Dr Gopichand Katragadda.

Myelin Foundry was started in January 2019, by Dr Gopichand Katragadda along with his co-founders Ganesh Suryanarayanan and Aditi Olemann. They were inspired to create a product-oriented company out of India with global-first products, leveraging AI at its core.

AI, in recent years, has contributed significantly in the areas of NLP, image recognition, and voice recognition. The next domains which are being impacted are video processing, game streaming, medical imaging, and automated surveillance. So, the key focus for Myelin is to enable the transition of the media and entertainment industry to OTT delivery, leveraging the power of AI. “The timing is right, with 5G around the corner, ultra HD content, UGC, and democratisation of visual effects,” says Suryanarayanan.

“Myelin is the protective sheath of the axon, enabling faster and efficient communications between neurons. Myelin Foundry is an organisation that leverages AI, primarily, artificial neural networks, to enable faster and efficient communication of video and other unstructured data. The Foundry label identifies that we are a factory of AI based products for the industry,” says Olemann.

  • Myelin’s first client is a player leveraging Myelin products for national security applications such as for satellite images and drone videos. Myelin is currently piloting its product FOVEA Stream with the top OTT players in India

Katragadda is the Founder and CEO of Myelin Foundry. He is an independent director of Bosch India Limited. He is the vice-president of the IET, Board of Trustees, UK. He has over 30 journal publications, five patents, several invited presentations, and citations of his research work.

Suryanarayanan is the co-founder and CTO of Myelin. He was the general manager, technology leader, Digital Consumer IoT, Group Technology Office at Tata Group until January 2019. He brings more than 25 years’ experience in global technology companies like Intel, Cadence, and the Tata group. He has extensive experience in Silicon Valley and India. He has three patents and holds a BE (Honours) in Electrical and Electronics Engineering from University of Madras and a MS in Electrical Engineering from Virginia Polytechnic Institute and State University. He has a certified degree in Executive Management Programme for Entrepreneurs from IIM-Bangalore.

Olemann is also the co-founder and head of marketing for Myelin. She owns the go-to-market strategy and leads the commercialisation efforts of Myelin’s global-first products and is passionate about building markets for next-gen technology. She is an IIT-Guwahati and London Business School graduate. She has experience working in corporate strategy, and global partnerships in tech and innovation with Tata Sons – the holding company of the Tata group. She led the efforts to set up a multi-million-dollar fund for the Tata group, investing in emerging tech in leading universities across the globe such as Harvard and Yale, among others.

Myelin’s first client is a player leveraging Myelin products for national security applications such as for satellite images and drone videos. Myelin is currently piloting its product FOVEA Stream with the top OTT players in India.

Myelin’s video super resolution capabilities enable zero-delay and zero re-buffer OTT services with the highest quality of experience on the device, at a fractional cost. “Since 75 per cent of data traffic today is video, and this is set to increase with 5G, we are helping accelerate penetration of video streaming, while enhancing the viewer experience. We are cognisant that every bit of a video stream results in climate impact. Our solution enables the lowest carbon footprint for streaming,” says Olemann. “With Fovea Stream, you will consume videos at the highest quality, with no buffering or delays, even at low bandwidth. Shortly, our solution will also enable personalised immersive viewing experience and interactive viewing, which are the next big waves in video and OTT.”

“The telecom explosion in India has percolated to every corner of the country, resulting in easy access to data, with OTT media services changing how people watch television. The digital media revolution has globalised the world with 50 per cent of the world’s population going online and around two-thirds possessing a mobile phone. Social media has penetrated into our day-to-day life with nearly three billion people accessing it in some form,” states Shailendra Raj Mehta, president and director, MICA, the School of Ideas, in his report on Indian OTT platforms.

  • Neurocomputing chips have joined the CPU and GPU to power mobile phone edge compute. 5G promises to enable low-latency device-to-device intelligent real-time collaboration at the edge. Technologies at the edge, providing faster, cheaper, and better services along with newer ways of extending human life and the comfort of living, are to be expected in 2020

The report adds that India has the world’s second highest number of internet users after China and is fully digitally connected with the world. There is a constant engagement and formation of like-minded digital communities. Limited and focused content is the key for engaging with the audience, thereby tapping into the opportunities present, leading to volumes of content creation and bigger budgets.

The future of OTT platforms across the world looks bright, with a steady competition from linear TV. To adapt itself to the transformation, TV has started innovating by adopting new age digital platforms to reach out to audiences. Over the last one decade, the traditional linear television promise included OTT platforms as a part of their strategy for future survival. According to AIB Research, the OTT video market across the world will continue to grow at a brisk pace and with a surge compound annual growth rate (CAGR) of 10 per cent through 2022, the OTT market will generate a massive $51.4 billion.

Globally, even while TV has started showing a small decline, OTT has shown a clear increase in subscription. “The average revenue per user (ARPU) for pay TV is expected to go down to four times that of OTT in 2020, from six times that of OTT in 2017. Thus, with the increasing number of subscribers, OTT players are marching towards solid revenue in times to come. The global content scenario is, at a fast pace, getting redefined from sourced content to produced content. ‘The gloves are off’. Amazon, Apple, DAZN, Facebook, Google and Netflix all have the money muscle to finance their own productions or outbid on programming including major sporting franchises. Following the owned content promised along with the OTT platforms owned by the broadcasters, going forward, fewer content deals between programmers and independent OTT providers will take place,” states the convergence research report on the Indian OTT platform.

“From a technology standpoint, the biggest AI advances for MTL competition will be at the edge. Edge, here, refers to the ability to provide services closest to the source of data, including mobile phones, ground cameras, aerial cameras, and industrial sensors. Neurocomputing chips have joined the CPU and GPU to power mobile phone edge compute. 5G promises to enable low-latency device-to-device intelligent real-time collaboration at the edge. Technologies at the edge, providing faster, cheaper, and better services along with newer ways of extending human life and the comfort of living, are to be expected in 2020,” says Katragadda pointing out that MFL is building edge AI products that transform visual experiences and personalised outcomes on consumer edge devices using proprietary AI algorithms for video, voice, and sensor data.

Cover Feature

Modi's coalition challenge

A shrunk mandate for Modi means compromises and problems in governance

Corporate Report

RPEL undergoes a metamorphosis

RPEL focusses on innovation in high-value stainless-steel products for growth

Corporate Report

How SLMG became a force to reckon with

India’s largest independent Coca-Cola bottler SLMG Beverages plans for a future ready organisation

Special Report

PSU shares: Back on investors’ radar

With markets stabilising, PSU shares are again being favoured by investors

E-MAGAZINE
Coalition Challenge
Up, Up and Up
Indian Elections and Markets
FROM THIS ISSUE

Government

Private Equity

Mobility

Education

CSR

Corporate Report

Agriculture

The introduction of black pepper as an inter-crop in the sopari and coconut orchards, has enabled farmers to cultivate crops simultaneously

Skill Development

In 2020-21, the programme reached over 112,482 girls in urban and rural locations across six states in India, including 10,000 across Delhi

Collaboration

The event brought together stakeholders and changemakers to participate in a series of conversations on global trends and recent developments

Healthcare

The programme will focus on educating children on oral health and building awareness around the dangers of tobacco use

Biogas

German BioEnergy enters Indian market

Published on Aug. 17, 2023, 11:54 a.m.

BioEnergy will showcase its innovative biogas technology in India

Mobility

Ather looks to double its market share

Published on Aug. 17, 2023, 11:26 a.m.

Ather aims to produce 20,000 units every month, soon

Green Hydrogen

‘Kerala Hydrogen ecosystem a model for all states’

Published on Aug. 17, 2023, 11:06 a.m.

German Development Agency, GIZ is working on a roadmap for a green hydrogen cluster in Kochi

Renewable Energy

Adani Green eyes 45GW RE

Published on Aug. 17, 2023, 10:45 a.m.

AGEL set to play a big role in India’s carbon neutrality target