ASM Tech approves investment in Myelin Foundry

ASM Tech approves investment in Myelin Foundry

ASM Tech Approves Strategic Investment in AI Startup Myelin Foundry

ASM Technology Group Inc. (ASM) has announced approval of a strategic investment in Myelin Foundry, a deeptech artificial intelligence (AI) startup specializing in edge computing solutions. The move aligns with ASM's broader strategy to strengthen its position in advanced manufacturing and AI-driven technologies, as outlined in its Investor Day 2025 presentation. While financial terms of the investment were not disclosed, the decision reflects ASM's focus on diversifying its portfolio to include high-growth deeptech ventures.

Myelin Foundry, founded in 2019, develops AI algorithms for video, voice, and sensor data processing on edge devices, enabling real-time analytics with reduced latency. The company has previously raised $3 million in a Series A funding round, led by Visteon Corporation, with participation from Endiya Partners and Beyond Next Ventures. This funding supported international expansion and platform development, positioning Myelin as a provider of AI solutions for industries such as automotive and streaming services.

ASM's investment follows its own strategic emphasis on AI and automation, highlighted in its Q4 2023 investor presentation, which underscored the company's intent to explore partnerships and acquisitions in emerging technologies. Myelin's expertise in edge AI complements ASM's existing capabilities in semiconductor and industrial automation, potentially opening new revenue streams.

The startup has already secured key clients, including automotive original equipment manufacturers (OEMs) and streaming platforms, and has received industry recognition such as the NASSCOM Emerge 50 award. Myelin's first product, Fovea Stream, optimizes video transmission by enabling high-definition experiences over standard-definition bandwidth, addressing cost and efficiency challenges in content delivery.

ASM's board has prioritized innovation in its 2024–2025 strategic roadmap, as detailed in the CEO's AGM 2024 presentation. The investment in Myelin Foundry underscores this commitment, though the long-term financial impact remains subject to integration and market adoption. Investors are advised to monitor ASM's quarterly updates for further details on the partnership's progress.

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