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The Board of ASM Technologies approved a proposed investment of Rs 48 Crores in Myelin Foundry Private Limited for a 20% stake, to be completed within 12 months via cash consideration. Myelin Foundry is a deep-tech AI company specializing in edge-native artificial intelligence for industrial, automotive, and media sectors, with a FY24-25 turnover of about Rs 5.64 Crore. The deal is not a related-party transaction and requires no regulatory approvals. 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, and energy efficiency. Myelin has a US subsidiary (Myelin Inc., incorporated Aug 2023) and earlier raised funds from Visteon, Endiya Partners, Beyond Next Ventures, and SIDBI Venture Capital.
Minority strategic investment (20%) in a complementary AI business that broadens ASM's manufacturing-tech offerings without altering control of either company. The size (Rs 48 Crore) relative to ASM and the 12-month timeline suggest a measured, capability-led expansion rather than a transformational deal.