Looks like the tyre isnt seated properly.
I would deflate the tube, loosen the valve ring screw thingy, gently push the valve up into the rim a bit, then push the tyre down around the tube so that it sits properly in the rim (squeeze the tyre walls together ) the inflate the tube a little, tap the tyre at the valve position making sure it is still sitting in the rim properly, then inflate fully...dont forget to go around the tyre first before fully inflating pinching both walls to check for pinches...you dont want to see any tube sticking out from under the tyre.